Nasdaq has entered into bear phase - reasons and targetnasdaq index is making lower lows ,exactly reversed from 200ma and broken recent lows.
so this has confirmed that nasdaq100 has entered the bear phase.
price target on the downside comes around 11750 from the inverted V-shape pattern.
bearsish indications which has confirmed down side:-
1)falling head and shoulder:- Tgt=12200
2)inverted V-shape
tgt=11750
3)LL-LH
4) down by 22% from all time high
other reasons:-
1)increasing inflation
2)increasing interest rates
3)lower earnings
4)geopolitical tension
US100 trade ideas
US100 NAS100I see Nas100 buying from the discounted region - Buys for a long term - analysis based on structure - That area is likely to hold because it cleared out liquidity before it created the last high - Safe Trading _ Risk profitably
NASDAQ TrendNasdaq downward trend continues, breaking the previous low and following the downward channel
Nasdaq medium term viewweekly demand zone at 12962 provided a buying with a breach of 21 dema and last created supply area, thus confirmation of sustained buying from zone.
candlestick too form N reversal at demand.... a bullish sign.
The way forward:- it is in a weak supply zone with a small supply zone of 14590-14675 over head that may pushback to 21 dema for further rally to 15840-16021 daily supply area which can increase volatility in mid term.
Wave A not completed yet at NASDAQ 100, but almost close to itSub-sub wave (((3))) of sub wave ((5)) in progress, Looks like wave (((3))) is extending at down-side, so we may expect Nasdaq going down and completes its wave (((3))),(((4))),(((5))) in coming sessions
Assumptions: This is assumed, that wave ((4)) is completed. what if wave ((4)) is not completed, That's entirely different, lets wait for the market to unfold. But currently we can consider this scenario
Overall : NASDAQ is undergoing Zig-zag (5-3-5) correction at longer term, where wave A is about to complete its role, followed by we may expect pull back as wave B
NASDAQ idea and ranges I’m looking at. Potential bullish divergence building up on the daily. It would of course depend on how the market does on Monday. I’m expecting a bounce from around 12400 in the coming days/weeks. Markets could possibly bounce after the FOMC next week. I’m bullish for mid May.
NASDAQ, Daily chart shows reverted H&S patternNasdaq reverted H&S if price bounce from 13700. My idea to buy at resistance line 13700, SL 13600, TP 15200
US100 fell by about 5.24%US stock exchange showed sign of bearishness in the last week.
Oil prices are smoothing.
Dollar weakening.
10 Year Bond Yield Increasing.
My idea for today is bullishWell, At this time, there is not enough information available on chart which could help in high probability setup for me. But I would love to trade buy side if price gives me buying setup between the range of 14521 to 14491. I will not hold for long rather will close my positions around 14610.
