Base off my daily counts, we are at 21/21 starting from high...
Base off my daily counts, we are at 21/21 starting from highs of wave 2/5 on 2nd Feb. we ended interim count 13/13 which was from 10th Feb till 1st march.
21/21 could be a reversal point or it could also signify a top for the relief rally.
Base off 61.8% of Fibonacci for the $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ of wave 2 high to wave 3 bottom, we are looking at 14400s for the retracement top.
that would be a good sell zone for me to enter positional trades as the indices goes for new lows. Of course we are also ready for a further toss up to 14800 to squeeze out shorts before they push down for the next leg although I do see it's impossible for now as I have 2 trendline confluence point at 14300s - 14400s which we could get rejected off. There is however a upper trendline at 14900 should the 2 bottom TL fails.
the past 1 week from 24th Feb rebound has shown great weakness in the indices and also with decreasing volume further shows buyers have not entered the market. More of shorts covering and retail buying. We have further price target down below at 12200 for the $NASDAQ 100 Index (.NDX.US)$ which is around march 2021 low and also 4010 gap fill for $S&P 500 Index (.SPX.US)$ .
$Crude Oil Futures(DEC4) (CLmain.US)$ has hit 114 as I said it would from Monday when it was only at 99. if it breaks and closes above 114, 118 - 120 will be it's next target. is that good for indices? we all know the answer..
$Cboe Interest Rate 10 Year T Note (.TNX.US)$ and 2yr yields have been rocketing. another sign the indices is not yet at it's bottom. possible near term inverted yield curve could also be showing you a larger picture of what is coming in the next 12 to 18 months. I have warned about it all in my video since 2nd Jan when even analyst weren't talking about it yet as they deem it not important or severe enough yet to take notice. again, are high yields good for the $SPDR S&P 500 ETF (SPY.US)$ & $Invesco QQQ Trust (QQQ.US)$ which holds large cap tech stocks? we all know that.
$CBOE Volatility S&P 500 Index (.VIX.US)$ is currently on an upward channel and is looking ready for another spring up after retracing back to 29.50 support. inverted Vix curves are currently warning you of an impending large sell off coming your way. I have talked about it in my video as well. Yet again another data pointing to you we have not bottom out.
Will we get there? or will it reverse like what many thinks we could do after a rebound on 24th Feb? I'll choose to follow what the data has been showing.
As always trade safe and invest wise!
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stocks tagged has their technical analysis done in the video as well.
$Meta Platforms (FB.US)$ $Apple (AAPL.US)$ $Tesla (TSLA.US)$ $Advanced Micro Devices (AMD.US)$ $NVIDIA (NVDA.US)$ $Alibaba (BABA.US)$ $E-mini S&P 500 Futures(DEC4) (ESmain.US)$
$Meta Platforms (FB.US)$ $Apple (AAPL.US)$ $Tesla (TSLA.US)$ $Advanced Micro Devices (AMD.US)$ $NVIDIA (NVDA.US)$ $Alibaba (BABA.US)$ $E-mini S&P 500 Futures(DEC4) (ESmain.US)$
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Investing 101 OP : there is rumoured cease fire for Ukraine Russia. not sure if it's legit. if it is true, we may see a pump up to retest the 200ma.
Conger 81 Investing 101 OP : oh wah... really??? then the FED will have to do more rate hike as no more war to blame on liao...
Investing 101 OP Conger 81 : so far rumours. nothing confirmed. 27mins ago Russia defense minister did say they open to ceasefire but will take this war till the end.
Investing 101 OP Conger 81 : bots like to pump or dump on this kind of news. so if you wanna sell. take note on the pump first and see if it's strong, wait it out to sell higher.
Investing 101 OP Conger 81 : if rumour is true, bots should have started pumping by now.. Bloomberg terminal is way faster than this. Even I got hold of the news 50mins ago.
Conger 81 Investing 101 OP : which is why you say its rumors.
and thanks for the advice to wait for the que.
14400 and 14800
to be honest I was looking at the trades and nothing unusual happening to the futures...
Conger 81 Conger 81 : and bro 101, do you happen to know what's Powell testifying at 11pm later? can't really find any useful news on this....
if today is another whipsaw then will go down the wire on Friday for jobless claims liao..
70578700 : Honestly the Russians just wanted a pause to reorganize troops and I doubt a cease fire at this point. However I don’t think we are fully in the clear from the correction
70578700 Conger 81 : I think he is supposed to give a press conference at 11 but I can’t find anything more then “Powell set to announce rate hikes
Moo Moo Yap : 101 can I check and confirm that this is somewhat 3BB and soon to be 3BC with a drop coming?
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