NQ Panic Sell into Support

27 Feb

NQ and the global markets have been getting destroyed on news of trump tariffs, inflation, as well as recession warnings. Although many of these issues are political and are being viewed with altering perspectives, we are approaching a major support level here at the anchored VWAP of the overall uptrend since the nasdaq sold off 17%.

Shorting the market here can be quite dangerous as there is a potential for support to hold, and continue the uptrend here.

Lets see how it plays out

1 Mac

Nota

I know there is some anonymity in the market as some people believe we are seeing a wycoff distribution. And albiet on the SPY there is a potential for that, the nasdaq has not swept the liquidity above the high , a key signal of a wycoff model. Instead, to be this seems like a complex ABC or WXY corrective structure, ending at the 1-1.

1 Mac

Nota

Now keep in mind, we have massive resistance at this zone above us marked as the 618 retracement, and the massive fair value gap.

13 Mac

Dagangan ditutup: hentian tercapai

Slapped around on this one but stopped out of my trades as price continues the massive drop.

15 Mac

Nota

We are likely seeing a local bottom here as the market is hitting quite an exhaustion level. The recent candle structure suggusts this, with a deep correction in a short period of time. Time move being a 3 standard deviation move is of twice the severity compared to the august flash crash.

15 Mac

Nota

I want to state this move to the downside is extremely aggressive and seems quite controlled. I would expect a corrective structure to in the immediate short term if price fails to create a strong V shape recovery.