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…
Tag: NQ_F
Nasdaq100 (NQ) Nearing Weekly Chart Descending Wedge Resistance
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) Tries Bouncing To Weekly Chart Descending Wedge Resistance
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…
Nasdaq100 (NQ) Tries Forming Another Dead Cat Bounce
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) Just Above 2022 Low Ahead of NFP
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…
Gold (GC) Daily MACD Positively Crossing
Gold (GC) is rallying to start the year, but likely to see consolidation in the next day or so as it nears upchannel resistance (on the 4hr chart), ascending wedge resistance (on the daily chart), and the 50% Fib retrace of the March to October slide. Regardless of any profittaking this week, GC appears poised to extend the Bull Flag (on the weekly chart) by mid month, with odds now elevated for a test of the psychologically key 1900 whole figure level sometime in January.。。
Nasdaq100 (NQ) Weekly MACD Still Trying to Negatively Cross
Nasdaq100 (NQ) is trying to edge higher to kick off 2023, but remains vulnerable to a descending wedge extension (on the 4hr and weekly chart). 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…
Nasdaq100 (NQ) Ending Year Trying to Firm Just Above 2022 Low
Nasdaq100 (NQ) is trying to hold the 2022 low going into year end as seen by the near complete weekly Hammer. Nevertheless, 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…
Gold (GC) Nearing 50% Fib Retrace of Mar22-Oct22 Slide
Gold (GC) continues in its month long consolidation after pushing to a fresh December high yesterday. Regardless of the low liquidity in this holiday shortened week, odds are decent going into mid next week for GC to extend its ascending wedge (on the daily chart) and to resume its Bull Flag (on the weekly chart)…
Nasdaq100 (NQ) Consolidating Within Weekly Chart Descending Wedge
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over, but is trying to hold the 2022 low going into year end. Nevertheless, NQ appears less likely to bounce back by early January to descending wedge resistance (on the weekly chart) than it is to break in the same period to a fresh 2022 low…