$NASDAQ 100 Index (.NDX.US)$ $SPDR S&P 500 ETF (SPY.US)$ $S&...
$NASDAQ 100 Index(.NDX.US$
$SPDR S&P 500 ETF(SPY.US$
$S&P 500 Index(.SPX.US$
$SPDR S&P 500 ETF(SPY.US$
$E-mini S&P 500 Futures(SEP4)(ESmain.US$
$E-mini NASDAQ 100 Futures(SEP4)(NQmain.US$
Nasdaq is starting to regain bulltrend on 1hr chart. However on futures still not yet broke through 16460 key resistance level. Once it has broken that level and retested as support, nasdaq would likely regain full bull trend in due time and this would be an early signal to reenter to QQQ as the pullback will most likely be over for the tech sector. Based on all indicators on H1 chart it already had bullish signs after the 2nd hour of cash market open. However I had not entered as I was waiting for it to break the key resistance for a confirmation.
$SPDR S&P 500 ETF(SPY.US$
$S&P 500 Index(.SPX.US$
$SPDR S&P 500 ETF(SPY.US$
$E-mini S&P 500 Futures(SEP4)(ESmain.US$
$E-mini NASDAQ 100 Futures(SEP4)(NQmain.US$
Nasdaq is starting to regain bulltrend on 1hr chart. However on futures still not yet broke through 16460 key resistance level. Once it has broken that level and retested as support, nasdaq would likely regain full bull trend in due time and this would be an early signal to reenter to QQQ as the pullback will most likely be over for the tech sector. Based on all indicators on H1 chart it already had bullish signs after the 2nd hour of cash market open. However I had not entered as I was waiting for it to break the key resistance for a confirmation.
As for SPX H1 chart, not looking as strong as nasdaq and still has signs of resistance at key level of 4670 levels and not all indicators are pointing to the bull side as of yet unlike the NDX. As I did mentioned, tech sector will likely outperform if the fear of sell off was due to covid mutation. We will have to monitor closer to SPX/SPY to see if it will show early signs of regaining of bulltrend before we have confirmation to enter.
Vix fell close to 20% which also means the sell off was way overreacted on friday and investors are starting to rotate back into riskier assets. However as we still closed over 20 level for Vix, do not yet rule out the end of this pullback.
As always, trade safe & invest wise!
Do catch my video if you have not to see what to expect this week as well as the key resistance and support levels!
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Investing 101 OP : Looks like we are about to face another sell off today and yesterday was just a relief rally. Selling off starting after news of moderna CEO stated the current vaccines may not work as well against omicron and may take until next year to mass produce a working one.
Jensen Philanthropy : Unlikely for a rebound, JPOW is a hawk in disguise!
Investing 101 OP Jensen Philanthropy : Yes unlikely for rebound as it was high volume sell off yesterday. Bears are taking control.
Jensen Philanthropy Investing 101 OP : Good point, if Omicron is not as severe as we think, which is the case most likely, the Fed's interest rate hike early next year is all green light to go. I will be entering some PUTS for expiry next year Jan and March!
Investing 101 OP Jensen Philanthropy : We will see how this plays out. Futures seem to be picking up. But if this is indeed a downtrend from here, it will not cross the 16388 for NDX and 4620 on SPX. A rejection at that level will give you double confirmation to buy puts to start hedging your long positions.
Otherwise it could be a sideway market for the bulls and bears to fight it out.
Jensen Philanthropy Investing 101 OP : December 14 & 15 will be the day how all this plays out, but looking at my JPow, he seems to think the money printer are overheating too!