NASDAQ SPX and DOW are sitting on A = C targets within ABC zigzags and look reversable at this point right now..wouldn’t be surprised if we break 2173 by the close in SPX..Read More
I would have liked at least zigzag to setup a trade, but that may come later..at least we didn’t fall off a cliff like yesterday at 10AM
If the NASDAQ and SPX can sustain the highs into 11AM without a huge nasty fade like we’ve seen every 10AM for weeks now, we can break more fibonacci retracement levels in SPX and DOW..NASDAQ has already broke all of them..
SPX broke 786 of the entire C wave down and/or the top of the W2 setting up a W3 into year end..very powerful move with NASDAQ clearly taking out a new 52 week high
This one looks sustainable for a change as the fed held back from raising rates…my TQQQ position isn’t looking too bad anymore…W3 setup so will continue to hold
Will continue to hold ahead of the fed meeting and we got at least a 4 up in SPX and COMPQ so at best we get a 5th wave down and reverse back to the highs..
This one was particularly ferocious and hopefully doesn’t get antagonized on the fed decision..
We got a bounce from the intraday downward 3 but not big enough to be a 4 yet… 382 would be another 2-3 points for NASDAQ from here..
Just a small ABC off the highs in the past 30 minutes in the S&P…looks like it’s reversable here and could occur in the next 10 mins..
The recent corrective wave appears to be a W2 before W3 NASDAQ, and if this is the case SPX should ride this momentum with NASDAQ and break new 52 week highs as well in the coming days, if not this week..
NASDAQ almost hit and broke 5270 this morning but SPX needs a bit of a push here…2155 is a really tough level to break in the past 10 days and breaking today would help ahead of the fed decision.
5270 in NASDAQ and 2155 in SPX need to break today to setup Wave 3’s ahead of the fed decision..if they fail to break those levels we may drop in a C wave when the decision comes out.
The entire day after gapping up it’s been fading since..and broke major 618 AND 786 support levels so the recent lows will be tested and or broken soon..
So NASDAQ is likely in a 1-2-3 pattern as well..but tomorrow is one of the most anticipated fed meetings in a while with people scream rate hike so I’m going to back off until tomorrow.
If NASDAQ can break 2165 today that would help prevent a C wave down..SPX needs to break 2150..we have 1 hour left so they need to get it done quick..
NASDAQ’s fade yesterday may have been a corrective ABC W2 before W3 up but it would need to take out 5270 and SPX 2155 to setup that type of move..
Pretty much have gone nowhere in the past couple hours with a slight fade in a small zigzag…5270 to the upside has to be taken out NASDAQ to get me off the sidelines..
Honestly, it would be easier to get a full zigzag here..just to make things uniform, but nope, they rally it..
It somewhat resembles a cup in a cup and handle W2, but if it can’t clear 2160 and keeps fading every time it attempts, it would make it even harder to forecast this particular index
Every day we’ve spiked up but have been met with selling at exactly 10AM, not giving much time to squeeze out a morning profit, so I’m sticking with the 786 breakout swing trading technique..
Looks like at worst at B wave up before C down..they’re fading a strong open again, and hopefully it doesn’t take out yesterday’s low..
NASDAQ got the closest to breaking 786 but has started to fade hard..SPX not even close..we need those breakouts to sustain this rally
NASDAQ would need to clear 5270 at 786 and SPX would need to clear 2155 at 1.00 today to make me feel confident that these rallies can sustain..
NASDAQ did complete a zigzag to the previous 4, but needs to clear yesterday’s high to sustain
Not a good sign..that would be 2 up before 3 down or B up before C down, so we may gap down to retest Friday’s low in SPX tomorrow morning or worse..