Nasdaq100 (NQ) is trying to firm and bounce off downchannel support (on the daily chart) but remains vulnerable to testing the 2022 low before the weekend. Regardless of any bounce off the June low or the psychologically key 11k whole figure level going into next week, NQ appears ready to extend its weekly chart downchannel in October…
Nasdaq100 (NQ) is slowing in its bounce off last week’s low, hesitating as what is arguably an ascending wedge (on the 4hr chart) nears completion. Nevertheless, NQ appears poised to at least test downtrend resistance (on the weekly chart) this week, where any recapture of the August high this month will likely extend the Dead Cat Bounce that began in June into October…
Nasdaq100 (NQ) is trying to halt its slide back towards its 2022 low, with bulls likely to get reprieve this week as most US traders return from the US Labour Day long weekend. NQ is poised to break above downchannel resistance (on the 4hr chart) and claw back above upchannel support (on the daily chart)…
The Nasdaq100 (NQ) is beginning to form a weekly Hammer, but appears to be gravitating in its Dead Cat Bounce to the 50% Fib retrace of the January to June slide. With NQ above downtrend resistance (on the weekly chart), a further short squeeze before month end to the 61.8% Fib retrace of the January to June slide should not be ruled out…
The Nasdaq100 (NQ) is forming a weekly Gravestone, tiring in its Dead Cat Bounce near the 38.2% Fib retrace of the January to June slide. Although NQ is at moderate risk of getting rejected this week at downtrend resistance (on the weekly chart), odds are roughly equal for a further short squeeze in August to the 50% Fib retrace of the January to June slide…
The S&P500 (ES) is hesitating in its month plus Dead Cat bounce to just above the 38.2% Fib retrace of the January to June slide. Yesterday’s break above downchannel resistance (on the weekly chart from April to July) has been weak, with decent odds for a slide back this week to the psychologically key 4k whole figure level…
The S&P500 (ES) is hesitating in its effort at forming a multi-month low after arguably forming a second data point on a triangle resistance (on the daily chart). Nevertheless, ES appears to be merely consolidating its break last week above descending wedge/downtrend resistance (on the weekly chart from April to June)…
Arabica Coffee (KC) slid more than 1% yesterday in healthy profittaking, but remains poised to closing near last week’s high. With the strong bounce off Thursday/Friday’s 2022 low near the 38.2% Fib retrace of June 2020 to February 2022 bull market, KC is just shy of the 38.2% Fib retrace of the February to July slide…
The Nasdaq100 (NQ) is hesitating in its Dead Cat Bounce, but continues to have decent odds for a few more months of a short covering rally before exhausting near the downchannel resistance (on the weekly chart). Any daily close above downchannel resistance (on the daily chart) and the psychologically key 12k whole figure level will dramatically increase the likelihood for a retest of the June high before month end…
Raw Sugar (SB) is making progress in halting the correction since the May peak, closing yesterday at downchannel resistance (on the 4hr and daily chart). Any weekly close above the descending wedge resistance (on the weekly chart) will dramatically increase odds for a retest of the psychologically key 0.20 whole figure level in July sometime…
