Any predictions where nasdaq support is?

Long term, am staying short NQ to approx 7,000. Most will laugh, but extreme highs and lows, economy, government and people tend to do same, "herd affect" in my trading plan.
 
Handle123 said:
Long term, am staying short NQ to approx 7,000. Most will laugh, but extreme highs and lows, economy, government and people tend to do same, "herd affect" in my trading plan.
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That is a +50% drop. What is the basis for that prediction? Is the world that bad?
 
Wide Tailz said:
When enough muppets get the money shaken out of their accounts, the market will change direction.
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1300 to 1400. Around where it bottomed in 2000 and 2008. There will be many tradable rallies along the way.
 
brightside said:
Opinions on crucial area’s?
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Important low for all stock indices is the early October low. If markets can close and HOLD below, then we likely have a bear market on our hands.

Suggest keeping an eye on RUT/IWM... could be the "canary in the coal mine". It is chewing on the bottom of its long consolidation and could have already passed beyond its bull market top.
 
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Handle123 said:
Long term, am staying short NQ to approx 7,000. Most will laugh, but extreme highs and lows, economy, government and people tend to do same, "herd affect" in my trading plan.
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Na, most people might, but I am not laughing at all. Long term seem's like good probability. RTY Weekly has been setting up and is primed for a serious rug pull. NQ Daily is shaping up and starting to form the building blocks for a move lower as well. I do think 7000 is a little low though, unless things completely fall apart like last time, I'd expect NQ to stabilize around 8613-9222.25 area.

For ES 3105-3262
For RTY 1584-1690

EDIT: I have no actual position though, so not putting my money where my mouth is. Almost exclusively day trading the markets.
 
13k will be strong support on NQ. A decisive break below there (as opposed to a few weeks of high volatility whipsaw putting in a low, as at 2018 and 2020 lows) would herald the most significant bear trend, and first real bear market, since 2008.
 
When seen on Oct fib levels that it already touched near the 15k level and seems will see a rise now
upload_2022-1-20_13-19-2.png
 
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