Nasdaq100 (NQ) is consolidating Friday’s bounce, hesitating as seen by the weekly Doji forming just above the psychologically key 12k whole figure level. Any break above the 4hr chart downchannel resistance this week will likely coincide with a retest of triangle resistance (on the daily chart)…
The S&P500 (ES) is consolidating after yesterday’s bounce, but remains wobbly going into next week with a weekly Doji trying to form just below the Oct-Feb uptrend support (on the weekly chart). Any weekly close below the psychologically key 4k whole figure level would reinforce the idea that the slightly higher February high versus the January and December highs was a bear trap…
The VIX (VX) is trying to halt the slide from October by rebounding off last week’s fresh 2023 low. Before bulls get excited, the VX will need a daily close above downchannel resistance (on the daily chart)…
The S&P500 (ES) is consolidating after the strong reversal off the Wednesday Hammer low, hesitating as it bumps against downchannel resistance (on the weekly chart). Although odds are elevated for a weekly close above this key bear-bull battle ground, a break above the weekly chart downchannel resistance could very well be brief with the highly anticipated FOMC and Fed rate announcement Wednesday potentially setting up for a slide back into the same downchannel…
Nasdaq100 (NQ) is consolidating after yesterday’s massive 2% plus surge, but is likely to grind higher to the psychologically key 12k whole figure level and upchannel resistance (on the 4hr chart) in the next day or so. Odds are suddenly moderately high and increasing that yesterday’s break above the weekly chart descending wedge resistance ends the 2022 bear…
Nasdaq100 (NQ) slid more than 1% yesterday after getting rejected Wednesday at descending wedge resistance (on the weekly chart). NQ appears to be entering the advanced stages of the Dead Cat Bounce that began early in the new year, with odds increasing for NQ to slide back to this year’s low before month end…
Nasdaq100 (NQ) is consolidating after the strong short covering last week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Nasdaq100 (NQ) is consolidating after the strong short covering this week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Wheat (ZW) is starting the week consolidating for a 3rd straight day near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), ZW is moderately vulnerable to sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
Nasdaq100 (NQ) is at elevated risk of a descending wedge extension (on the 4hr and weekly chart) in the next week. NQ appears less likely to bounce back by late January to descending wedge resistance (on the weekly chart) than it is to break in the same period below the 2022 low to wedge support…
