Comments on: Nasdaq 100 Wedge Breakdown

By: Jeff Vandenburgh

Jeff Vandenburgh — Fri, 07 Jul 2023 15:57:59 +0000

In reply to KevinK. Great call, KevinK!

By: KevinK

KevinK — Thu, 06 Jul 2023 20:14:20 +0000

In reply to KevinK.

QQQ closed the gap and cancelled out the reversal…
but SPY didn’t, so it’s still in play…
but after 2 down days, and stocks rallying off the lows today…
I’m thinking tomorrow will be up.
The market has trouble going down 3 days in a row this year.

By: KevinK

KevinK — Thu, 06 Jul 2023 16:04:59 +0000

Island reversal forming on QQQ and SPY (unless the market rallies later)

By: rsotc

rsotc — Thu, 06 Jul 2023 15:12:47 +0000

In reply to Beljrc. I plan to cover both in more detail today but the gist is: WEAT dropped back below T1 but (so far) made a successful backtest of the primary downtrend on the daily chart. As long as it holds above that trendline & ideally above the recent lows/backtest, the longer-term bullish case is still intact. Best if WEAT can now resume the uptrend & take out the former T1 & T2 levels (and the recent spike just above T2). /NG and UNG still looking constructive on the daily time frames with the next buy signal to come on a break above T2 on the UNG daily chart.

By: Beljrc

Beljrc — Thu, 06 Jul 2023 15:06:19 +0000

Thanks Randy, hope you enjoyed your time with the family….Could you please update us on Wheat and Nat Gas?

By: rsotc

rsotc — Thu, 06 Jul 2023 13:51:20 +0000

QQQ 5m chart with some ‘micro’ levels for active traders