Price, Price Spread, Lagged Prive/volume Spread, and Binary Price/Volume Indicator
Price, Lagged Price Volume Indicator, and Total Volume With 50 period Moving Volume Average
Fibonacci Price Scale and Targets
As 2023 begins, MNQH23 rallied in Asia and in Europe and appeared to be nearly overbought on an hourly basis.
If this market can remain above 10946, odds are pretty good that is take out 11204.70 an old VWAP line, and rally to 11230.25 and 11306.25 in perhaps the next day or so.
If not, we will revert back perhaps to 11035.50 or even to 10951.75. If there is a meltdown, then 10892.50 could be a target.
The key thing is that support MUST hold at 10608.50, or the hunt for the 9-handle could begin in earnest. Also, the pathway to the 13-handle is still there if buyers have a reason to take a run at it.
I will take a trade in either direction that meets my criteria, but if it is not there, I will stand down. Protect profits and equity first, trade for profit when the odds and conditions favor one.
More will come soon, including surveys about what you want to see.
I hope everyone has a happy, prosperous, and in terms of trading, profitable 2023!
Economic Data Courtesy of Econoday dot com
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