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 Target
Did you miss me? NO? Well I came back anyway. Rebuilding what I had was not as hard as I thought as I had backed up all data 2 hours before the crash, so life will go on unabated.
As you know, Rep. McCarthy and Dear Leader passed a continuing resolution that basically removes any future debt ceiling and gave the Uniparty nearly unlimited abilities to spand money (it looks like up to another 4 to 8 trillion dollars). That is bad for consumer inflation and the eventual popping bubble of asset prices when the debt gets completely out of control (which is really at the moment). Most rational people with nominally functional intelligence know this. That is how completely out-of-touch these power-and-money-hungry cretins in Washington, D.C. are.
We can discuss that later, but for now lets concentrate on the charts to see what could happen today.
MNQM23 sold off a bit overnight in Asia but hourly charts seem to indicate mild bearishness even though buyers have been active in Europe. We will simply have to see how US traders and institutions react as 0930 EDT arrives.
If MNQM23 can rally above 14320.75, it has a very good shot at regaining 14365, and beyond to 14397, 14438.75, and 14484 by Friday if buyers return.
If not, then MNQM23 likely pulls back to 14248, and beyond that to 14216.25, and 14175.75 possibly by Friday, if sellers dominate the action.
I have not traded this week, though in the downtime I did finally complete most of the coursework of the reconsituted training program the platform developer provided (as that restarted I think three times since last fall). I may comment on that later.
If I see something that fits my trade plan in terms of price momentum, volume, and Fibonacci pattern, I will trade, but it not, I will sit on my hands.
More will be coming soon, and we still need to discuss what happens from the longer-range picture for NQ, which I will get to this weekend if nothing else blows up.
Have a pleasant, productive, and profitable Thursday.
Today’s Economic Data Courtesy of Trading Economics dot com. Be sure to refresh the date at the top left.
Did you miss me? NO? Well I came back anyway. LMBO