NAS/QQQ WEEKEND Mar 28-Apr1
Here is the weekend look at the NASDAQ 100 for the week of Mar 28th- Apr 1st. Last week the Nas finished up once again closing the week up another 2.3% Bringing the gain from the Mar 15th low to 14%. Price closed above the 21 & 55 emas, but below the 200 sma and currently sits in the upper third of the neutral(tan box).
Going into this week the 200sma should now act as a magnet for price as will the Feb 2nd pivot above at 15260. The 200sma sit exactly at the top of the neutral. A break and hold above it would flip my bias to bullish. If price rejects at the 200sma and falls back down my bias would remain neutral and I would expect sideways to down price action and a retest of the bottom of the neutral would be possible.
This week we have the potential a potential Ukraine peace deal coming out of talks in Turkey Starting Monday. Both sides had softened their tone somewhat and the market should react strongly to any positive news leading to a continued short squeeze higher. Also, any data pointing to an easing of inflationary pressures would be a strong catalyst to the upside. Of course, negative news related to either could easily send price back down quickly. As I have mentioned before, this market has the potential to explode in either direction at any time so continued caution is warranted. Watch for my intraday updates as thing play out. Please like my post if you find it helpful and follow me on Twitter @Sea2Sky_trader for more updates.
Weekly Events>>>
Monday... US Budget release & Ukraine/Russia Talks begin
Tuesday... US Consumer Confidence & JOLTS
Wednesday... US GDP & Oil Inventories
Thursday... Consumer Spending, Initial Jobs Claims & US PCE
Friday... Non Farm Payrolls & Average earnings + ISM Manufacturing
Notable Earnings>>>
Monday... PLAY
Tuesday... MKC, CHWY, LULU, MU, RH
Wednesday... FIVE, PATH
Thursday... WBA
Bullish Notes>>>
200sma within striking distance
Possible Ukraine/Russian Peace agreement
Potential drop in Oil price due to Chinese Lockdown
Yields Fall
Bearish Notes>>>
Price may reject at 200sma
Ukraine/Russia talks fail
Yields continue to rise
Oil prices continue to rise
Increased inflation concerns
Here is the weekend look at the NASDAQ 100 for the week of Mar 28th- Apr 1st. Last week the Nas finished up once again closing the week up another 2.3% Bringing the gain from the Mar 15th low to 14%. Price closed above the 21 & 55 emas, but below the 200 sma and currently sits in the upper third of the neutral(tan box).
Going into this week the 200sma should now act as a magnet for price as will the Feb 2nd pivot above at 15260. The 200sma sit exactly at the top of the neutral. A break and hold above it would flip my bias to bullish. If price rejects at the 200sma and falls back down my bias would remain neutral and I would expect sideways to down price action and a retest of the bottom of the neutral would be possible.
This week we have the potential a potential Ukraine peace deal coming out of talks in Turkey Starting Monday. Both sides had softened their tone somewhat and the market should react strongly to any positive news leading to a continued short squeeze higher. Also, any data pointing to an easing of inflationary pressures would be a strong catalyst to the upside. Of course, negative news related to either could easily send price back down quickly. As I have mentioned before, this market has the potential to explode in either direction at any time so continued caution is warranted. Watch for my intraday updates as thing play out. Please like my post if you find it helpful and follow me on Twitter @Sea2Sky_trader for more updates.
Weekly Events>>>
Monday... US Budget release & Ukraine/Russia Talks begin
Tuesday... US Consumer Confidence & JOLTS
Wednesday... US GDP & Oil Inventories
Thursday... Consumer Spending, Initial Jobs Claims & US PCE
Friday... Non Farm Payrolls & Average earnings + ISM Manufacturing
Notable Earnings>>>
Monday... PLAY
Tuesday... MKC, CHWY, LULU, MU, RH
Wednesday... FIVE, PATH
Thursday... WBA
Bullish Notes>>>
200sma within striking distance
Possible Ukraine/Russian Peace agreement
Potential drop in Oil price due to Chinese Lockdown
Yields Fall
Bearish Notes>>>
Price may reject at 200sma
Ukraine/Russia talks fail
Yields continue to rise
Oil prices continue to rise
Increased inflation concerns
評論:
NQ making push higher this morning on strength in mega cap tech led by TSLA. First target would be the 200 as mentioned above. Also of note is this bearish harmonic with a competition zone at 15780. Can be used a higher target and area to watch for heavy resistance.
評論:
200 sma hit and now trading above the neutral . Good chance it hits 15260. One would expect resistance in this area with some profit taking, but we will see.
評論:
Broke through the 200 and has tapped the 15260 level twice. If/then scenario in play. If price break through the 15260 level the target would be the 786 fib which is the harmonic completion I outlined earlier. A break back below the 200 could mean a move back down to the 9/21 ema cloud.
評論:
Price as fallen below the 200 going into the close. A close below the 200 again may signal more lows. Targets to the down side would be the 9ema and 21ema. Take note that these levels line up with the 236 and 382 fib retracements of the recent move.
評論:
Tapping the 9ema now.
