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
TradeStation decided against my best wishes to update this morning, and in the process it ate one of my VWAP enhanced charts with support VWAPs at 14790 and below, but we will simply have to roll with what we have.
Everything from mortgage rate pressure to Evergrande bankruptcy to Elon Musk’s sale of Bitcoin is making U.S. equity, bond, and cryptocurrency markets nervous. That pressure is showing now.
As you can see from the charts, as soon as the neckline at 14853.50, Asian traders took it down toward 14750, and seemed to add to general QQQ and NQ bearishness, though European markets until just now idled MQNU23.
If MNQU23 can remain above 14750, it has a shot at recovering to price resistance around 14908. If buyers get aggressive, it could break through WVAP resistance and perhaps tag 15018, and even pressing forward to 15096.25 and beyond that to 15196 by Monday.
If that doesn’t happen, there could be a pretty short trip back to 14652 and 14552.50 by Monday.
Picked up another net 15 NQ points short on the rocky volume start of U.S. action yesterday. I was given the boot but shut it down halfway, and then took the next trade which hit it’s target. That is the benefit of trading outside the entry points, which I will demonstrate by video tomorrow. Finally.
That is all for now. Have a wonderful and profitable Friday. I will write tomorrow and fulfill the promise I made. Take care!
Today’s Economic Data Courtesy of Trading Economics dot com. Be sure to refresh the date at the top left.
