Daily analysis and trade setups on NASDAQ 20220728Happy GDP Day
NASDAQ has turned bullish in the short term. However, it needs to keep moving above 12530 and then break 12590, 12670 to confirm the bias
Macro: Personal consumption expenditure, GDP, jobless claims
Blue levels B & C are largely in play.
Buy
Break: 12550, 12590, 12670, 12800
Reversal: 12420, 12380, 12280, 12200
Sell
Break: 12480, 12435, 12370
Reversal: 12590, 12680, 12700, 12810, 13020
High level chart is here >>
Green Gobliins chart is here >>>
Confluence level chart is here >>>
Nasdaqanalysis
Daily analysis and trade setups on NASDAQ 20220726NASDAQ is likely to range between Blue zone B & D waiting for FOMC tomorrow.
Macro: Housing price index, consumer confidence, new home sales (all before market open)
Looking for #scalper #trade #setups only
Blue zone B, C, D are in play
Buy
Break: 12375, 12480, 12590
Reversal: 12220, 12100, 12060, 11990, 11800
Sell
Break: 12220, 12130, 12050, 11990, 11920
Reversal: 12370, 12480, 12590, 12670, 12810
Chart with Green Goblins here >>>
Chart with confluence here >>>
Nasdaq: Welcome Back!Just as we expected, Nasdaq has returned into the turquoise zone between 11527 and 10644 points. There, ideally in the zone's lower half, the index should finish wave C in turquoise and subsequently turn upwards. However, there is a 30% chance that Nasdaq could directly push the ascent above the resistance at 13583 points.
NAS 100 (NASDAQ) H4 chart. The overview marketNAS100 seem to be aiming to retest the breakout that took place at level 12327.7 on the 27 May 22. If you look, you will see that the market was moving on a channel for some time before a breakout and the price never had a retest after that and now we are seeing the market coming back to that level. If the price is to just do a retest, we will see the price pushing to the upside and if not the price will keep moving with the bearish move as we are all that the market is still bearish anyway.
NAS100 LONGBeen watching the price making a good for weeks now, it finally broke out of the mitigation area while we expect price to make a pull before going down to my POI for taking orders.. Price Broke structure around May 26, made an unfair move upside and now we are seeing the correction. My POI is around 11887.50 area as the last bearish candle before price broke the structure.
NB: Trade wise guys. This is just my observation and not a Possibilty
NASDAQ : IXIC is in Downward channel trying to break Middle LineNASDAQ previously took string support from 50% retracement level on Fibonacci channel.
Now, NASDAQ has been trading from last months in this Downward Parallel Channel and testing the Middle trendline of Channel.
If it manages to break this line with good volumes and a decent candle, then strong upside is expected to 12500 levels.
Strong Buy Zone is from 11800-12000 which doesn't seem to get broken in Near term.
Nasdaq: Get Down to Business!Or rather get up to business as that’s the direction to go for Nasdaq. The tech-index should move above the resistance at 13583 points to complete wave i in magenta at about 1500 points before starting a countermovement downwards to finish wave ii in magenta. However, as long as Nasdaq has not made it above 13583 points, we still must allow for our alternative scenario, which would come into play if the index were to fall below the support at 11491 points.
Did NASDAQ potentially hit bottom?!NDX just hit and bounced off a major support level.
Over the last 18 years, as shown in the chart, this support level has proven to be a historical pivot point for the Nasdaq index. As per the attached chart image, every time the index hit this support level (150 MA on weekly candles), it has bounced off the moving average, and reversed into either short term or long term bullish trend. You can watch our full video explaining this by clicking on the link below.
In addition the Stochastic indicator is telling us that the NDX is oversold and overstretched, and is due for a rebound rally at minimum, or potential change to a bullish momentum.
Nasdaq Making Inverted Head&Shoulders , Long Setup With 500 PipsThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
Nasdaq Analysis Hi Everyone,
Nasdaq is in a key area of resistance also the centre of the trend line if broken can reach 12874 area, also the top of the channel. However with the current market state I would expect price to push down again to previous lows of 11600 area and break through this to reach the next monthly support of 11000.
Key to remember, The moon is not the target, alway have a TP, break evens, take partials, so you don't let the market eat away everything.
NAS LONG TERM DROPNasdaq is currently in a heavy bearish market and has no signs of stopping.
I am looking for NAS to continue dropping down to hit the trendline sometime during August. It should cover 50% of the COVID crash which is almost equivalent to a 50% drop from the highs.
After that target is reached, I will be looking for buys on NAS all the way to 20k.
Trade safely and risk only what you can afford.
This is not financial advice.
PM me if you have any questions.
Nasdaq: Dabbling in the Water 💦Nasdaq is looking for refreshment and thus is dabbling in the blue stream between 12317 and 11600 points in the sandy yellow river bed between 12894 and 10501 points. The index should dive a bit deeper into the water now to finish wave v in magenta just below the mark at 12100 points, but it could also decide to leave the river directly. In both cases, Nasdaq should subsequently rise above the resistance at 13583 points to complete wave i in magenta between this mark and the next one at 16569 points. Afterwards, the index should approach 13583 points again to end wave ii in magenta. However, there is a chance that Nasdaq could emerge from the river on the other side and drop below 11600 points.
Why did the Nasdaq Index fall 5% on Thursday?The Nasdaq Composite Index, the benchmark for technology stocks in the US, fell to its lowest level since November 2020 on Thursday, May 5, which can be attributed to a number of factors, including lacklustre earnings from e-commerce firms like eBay (NASDAQ:EBAY) and macro-economic factors like the Federal Reserve's monetary tightening.
The index fell 4.99% on Thursday to 12,317.69. The sell-off came amid a dismal performance by the overall US stock market, with the Dow Jones Industrial Average also shedding 3.12% and the S&P 500 slipping 3.56%, its second-worst since the start of the year.
Calm before the storm
Prior to the drop on Thursday, the Nasdaq rose 3.19%, its biggest gain since 2020. The S&P 500 likewise rose 2.99% that day, also its biggest in about two years.
The Wednesday rally came as the Fed hiked interest rates by half a percentage point, which was widely expected by the markets, and as Fed Chairman Jerome Powell said, the central bank will not be considering a more aggressive rate hike in its future meetings.
The rate hike last week marked the Fed's first 50bp hike since May 2000 as the central bank seeks to ease-into the taming of red-hot inflation and a tight labor market.
Aggressive rate hike unlikely
A "75-basis-point increase is not something the committee is actively considering," Powell said Wednesday last week during a press conference after the Fed's monetary policy meeting.
The appetite for US equities on Wednesday was spurred by this and Powell stressing that the economy is resilient and is well geared to withstand tighter monetary policy. The optimism boosted the shares of Apple (NASDAQ:AAPL) and Google parent Alphabet (NASDAQ:GOOGL), both rising more than 4%.
Swift reversal
However, the next day, Apple tumbled 5.6%, while Alphabet slumped 4.7% amid a tech sell-off that dragged on Wall Street and sent the Nasdaq plummeting at the sharpest rate since 2020. Amazon (NASDAQ:AMZN) also sank 7.6%, while Tesla (NASDAQ:TSLA) fell 8.3%.
Tom di Galoma, managing director at Seaport Global Holdings, said there was no reason to buy the dip in equities with more tightening underway and "because it doesn't look like inflation is going anywhere".
Deutsche Bank strategist Jim Reid warned that the market slump on Thursday indicated "that there must be an element of doubting the ability of there to be an effective 'Fed Put' in this cycle."
However, ING Bank economists said sharper interest rate increases could lead to a greater risk of an adverse economic reaction. Interestingly, talk of an economic slowdown in the UK (in conjunction with a rate hike by the Bank of England) directly proceeded the sharp sell-off on May 5.
Sell-off continues this week
This week, the Nasdaq Composite Index has continued its downwards trajectory, falling another 4.29% on Monday, May 5. The Index is now at a 13-month low.
On Monday, some of the worst performers include the aforementioned Amazon, haemorrhaging another 5.21%. Even more so, weighing on the index were Tesla (NASDAQ:TSLA) and Rivian Automotive (NASDAQ:RIVN), plunging more than 9% and 20%, respectively.
NASDAQ: Bloodbath ..?Prices seems like approached strong Demand Zone
at 12200 and also trapped in Bullish Flag inside
another Bullish Flag. We might see some retracements
from current Demand zone but NASDAQ is already entered
in Bearish Trend.
So better to look for Short Entries.
Proper Shorts entries will be active after breaking 12000
critical zone. Once Broken, look for retest and take entry.
Keep in mind the current Fundamental impacts
including Russia- Ukraine war, interest rates,
inflation also we've got chances of RECESSION
up ahead.
Nasdaq: Red remains the theme!Nasdaq
Intraday - We look to Sell at 12707 (stop at 12947)
Further downside is expected and we prefer to set shorts in early trade. Previous support, now becomes resistance at 12700. Trading has been mixed and volatile. The bias is still for lower levels and we look for any gains to be limited. Preferred trade is to sell into rallies.
Our profit targets will be 12042 and 11988
Resistance: 12700 / 13000 / 13500
Support: 12000 / 11800 / 11500
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Nasdaq Possible FormationHere we see the formation of an imperfect plate with a minimum target of 138.2% of the B wave and a maximum target of more than 161.8 B wave, which will actually be a drawn flat C.
Since the flat C is most likely part of a triangle, we have to wait for the formation of the next components of a triangle. Due to economic conditions, we can not expect the formation of strong contraction triangles. Of the 18 types of triangles available, reverse triangles can be Contraction and reverse expansion thought. One of the most pessimistic scenarios is drawn in the figure, in which case we will not see a new ceiling in the market. In the case of forming a neutral contraction reverse triangle, the previous or slightly higher ceiling will eventually be formed.