Top of the Market to you! Nasdaq to test March lows?...
08-23-2020; Nasdaq Emini @11562; SHORT w. a 7500 target
1) Potential (likely) C point of a Gartley forming - the Top of the Nasdaq and the end of this "bull" @11560-11750;
2) IFF 1 (above) turns out to be the case THEN the Gartley's 38%-61% retracement forms the Right Shoulder of the H & S @11150-11320;
3) IFF 2 (above) is the case THEN the target of the H & S is exactly the 88% retracement of the last major leg up, giving the B point of a Deep Crab - @10500;
4) IFF 3 (above) is the case THEN the target of that Deep Crab is: 9500;
5) IFF 4 (above) is the case THEN this is a 3-Drive (down) with the 3rd leg extension to 7500, which is the exact 50% retracement of this current 3-Drive up, that started @ 4000. 7500 also coincides w. the 800 Day M.A.
... other coincident indicators:
A) 10-year T. Notes are showing a 100 basis point drop - yield rise;
B) Inline w. 1 (above) the USD is about to rally;
C) Inline w. 2 (above) the Precious Metals are showing a drop; Gold -> $1850, Silver -> $19; G/S retracement to 100-104;
D) Nasdaq RSI diverging (hard) since June;
... and about a dozen more, miscellaneous indicators, all pointing to(coinciding with) this likely, final Nasdaq market top.
Hey, just an idea...
1) Potential (likely) C point of a Gartley forming - the Top of the Nasdaq and the end of this "bull" @11560-11750;
2) IFF 1 (above) turns out to be the case THEN the Gartley's 38%-61% retracement forms the Right Shoulder of the H & S @11150-11320;
3) IFF 2 (above) is the case THEN the target of the H & S is exactly the 88% retracement of the last major leg up, giving the B point of a Deep Crab - @10500;
4) IFF 3 (above) is the case THEN the target of that Deep Crab is: 9500;
5) IFF 4 (above) is the case THEN this is a 3-Drive (down) with the 3rd leg extension to 7500, which is the exact 50% retracement of this current 3-Drive up, that started @ 4000. 7500 also coincides w. the 800 Day M.A.
... other coincident indicators:
A) 10-year T. Notes are showing a 100 basis point drop - yield rise;
B) Inline w. 1 (above) the USD is about to rally;
C) Inline w. 2 (above) the Precious Metals are showing a drop; Gold -> $1850, Silver -> $19; G/S retracement to 100-104;
D) Nasdaq RSI diverging (hard) since June;
... and about a dozen more, miscellaneous indicators, all pointing to(coinciding with) this likely, final Nasdaq market top.
Hey, just an idea...
Nota
..
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ALL the trading concepts outlined this can be viewed in the
following Live Trading (Real Time) posts:
Nasdaq100 E-mini
Forex
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Weekly Totals (Net R.O.I.) since this article appeared:
Nasdaq100 ****************************************************
+561.5 points;
Weekly Net R.O.I., Sept., 14-18, 2020: +35.1%
***********************************************************
Nasdaq100 *********************************************
+212.25 points;
Weekly Net R.O.I., Sept., 21-25, 2020: +13.25%
***********************************************************
FX *********************************************************
Weekly Net R.O.I., Sept., 14-18, 2020: +11.56%
************************************************************
FX *********************************************************
Weekly Net R.O.I., Sept., 21-25, 2020: +21.67%
************************************************************
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.