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
Clown Car Earth seems destined for calamity on all sides, even though it appears wheat prices will ease as supplies are ample given previous fears of weather related shortages.
As China and the West seem on an inexorable path to war in the South China Sea, bitter historical enemies are having to from trade alliances as the economies of West and East begin to slump from empty expansion, excessive debt accumulation, and governmental malfeasance. One example is discussed here.
In the West, America faces escalating interest rates as capital flows begin to leave the US for better returns elsewhere. When that happens, current debt collapses in value and interest paymenets become the top budget item for the Federal government in Washington.
China faces debt crises from insane overexpanion of real estate to give the appearance of a strong economy, even though the strength is now laid bare as close to half of Chinese youth are unemployed. Decoupling of US trade is now happening, as China is now America’s #3 trading partner, not it leading trading partner.
The battle lines are being drawn, even though it seems like their drawn with invisible ink.
Let’s worry about that later and look at the charts.
What seemed to be a building rally in MNQU23 got knocked back in Europe, but there still could be room to the upside depending on what the consensus of traders becomes after 0930 EDT.
If MNQU23 rallies beyond 15329.50, it has a good chance of rallying to 15279 and even 15349.25 by Tuesday. If not given the wide candlesticks of Sunday evening, it could fall back 15185.50 and beyond that back to the lows around 15020. If sellers press hard, it could even fall back to 14964.75 and 14894.25 by Tuesday.
Picked up yet another 25 NQ points short on Friday. By tomorrow I will be trying out the scalper/trader technique to pick up the longer moves if and when they happen. I will also get the writing text for the video of last week’s trade I promised I would provide.
That is it for now. Have a productive and happy Monday!
Today’s Economic Data Courtesy of Trading Economics dot com. Be sure to refresh the date at the top left.
