Price, Price Spread, Lagged Price/Volume Spread, and Binary Price/Volume Indicator
Price and Total Volume With 50-period Moving Volume Average
Fibonacci Price Scale With Targets
We in fact fell through MNQH23’s floor rafters at 12459 to 12557 (as I got booted from an until that time successful trade) and fell all the way back below another VWAP line at 12407 and back through 12300 as the gaps in holdings would have told you might happen. As I stop limit was reached yesterday, I did not reverse (and I had other work to do), but we are there now as selling continued in Asia and Europe last night and this morning. If we cannot hold 12284, we are likely going to 12239.75 or even 12183.75 or lower. If we get a rally, it coudl stop around 12384.25, but if it can rally beyond 12407, it has a shot at rallying back to 12446.25 or even 12490 and higher.
With it being Friday, thing may just mellow out as traders and institutions digest the very confusing economic data and the earnings of NASDAQ giants and other participants in the NASDAQ 100.
I did not let yesterday’s bearish signal (played out on my trade) diminish my enthusiasm, and I protected equity. I have had a fantastic month, and will be ready to trade in either direction today.
We will simply have to see what is going.
Economic Data Courtesy of Econoday dot com
Consumer Sentiment
10:00 AM ET
Christopher Waller Speaks
12:30 PM ET
Baker Hughes Rig Count
1:00 PM ET
Treasury Statement
2:00 PM ET
Patrick Harker Speaks
4:00 PM ET