Opinions on crucial area’s?
Any predictions where nasdaq support is?
- Thread starter brightside
- Start date
RTY 2120.70 Monthly support (currently trading below)
NQ 15154.50 Monthly support (already touched it once in previous weeks, came within 16 points today, just now prior to close).
ES Monthly support is 4410 (I'd expect this to be a magnet for price, particularly if NQ starts trading consistently below its Monthly support).
BTC Support 39655 (We can lose this and 35280 can stabilize there). Trading below 35280 though for very long is really dangerous and increases probability of a sharp drop, which is anyones guess how low it goes at that point anywhere from 12k ish to 32610).
I am currently using ES 4410 as a proxy support level on NQ, for me I have a lot of open air if we lose 15154.50 and no real support until 13800-14050 area.
EDIT: This is on a macro level. On a micro level I personally take trades as they come if I find a setup it's possible we end up creating new support through a lot of days of ups and downs prior to reaching lower levels. But if we have a break down and all indexes lose monthly support, probability is NQ 13800-14050 for me, from how I view it.
RE: Any predictions where nasdaq support is?
- What I do is look at the 1-year chart and find "valleys" that are lower than todays close. Todays close 14,507.
- I see two prominent support levels covering the last year.
- May 10, 2021 at 13,430
- March 01, 2021 at 12,920
We look to have just started a possible downtrend and currently sitting at support right here at 15210, with next support at 14470, daily chart below..
Weekly chart below shows the Nasdaq index is still in a confirmed uptrend..
At some point this parabolic up-trending channel will break and move into another regime, personally I think it will move into a wide ranging multi-year kangaroo market as rates normalize instead of crashing as many are predicting, bonds still offer very low yields and with so much liquidity out there equities should remain well supported going forward.
Weekly NQ futures.
Um...No.
When enough muppets get the money shaken out of their accounts, the market will change direction.