Nasdaq 100 Index

Market Wrap for July 17, 2018

Starting with the daily charts, as impressive as today's reversal & intraday swing in QQQ was, nothing has changed on the longer-term charts. QQQ continues to wedge higher with the negative divergences still in place on the momentum indicators. QQQ daily July 17th SPY made an unconvincing attempt at taking out the key 279.80 resistance level today but only managed to close slightly above, essentially another test of that level today with additional upside needed to clearly take it out. SPY daily July 17th Zooming down to the 60-minute charts, today's snap-back rally following yesterday's bearish rising [...]

2018-07-17T18:10:41+00:00Jul 17, 2018 6:10pm|Categories: Equity Market Analysis|Tags: , , , , , |2 Comments

QQQ & FAAMG Stocks Analysis (video)

Technical analysis of QQQ & the market-leading FAAMG stocks plus a few other top components of the Nasdaq 100 to provide the near-term outlook for the stock market. The video also with a quick overview of the NQ (Nasdaq 100) and ES (S&P 500) E-mini futures & concludes by highlighting the upcoming earnings dates for the top 10 components of the Nasdaq 100. playback speed can be increased in the settings to reduce video duration

2018-07-16T15:43:41+00:00Jul 16, 2018 3:43pm|Categories: Equity Market Analysis|Tags: , , , , , , , , , , , , , , |1 Comment

YADH In The Nasdaq 100

Once again, we have YADH (yet another divergent high) on the 60-minute charts of NQ (Nasdaq 100 E-mini futures) and QQQ (Nasdaq 100 tracking ETF). Chances are this 60-min divergent high will soon be followed by a correction to at least the 7163 level & possibly as low as the 7010 level on NQ with comparable price targets of 173.50 and 169.70 on QQQ. I'm passing this along as an unofficial trade idea at this time as the negative divergences have yet to be confirmed via a bearish crossover on the MACD & PPO but will say that I [...]

2018-07-12T14:11:46+00:00Jul 12, 2018 2:11pm|Categories: Equity Market Analysis, Unofficial Short Ideas|Tags: , , |13 Comments

QQQ Approaching Resistance While Overbought

QQQ approaching the 178 resistance level with both the PPO & RSI at levels that have capped all previous advances in the recent past. While this does not assure that the Nasdaq 100 won't continue to advance well beyond the 178 level before a pullback of 2% or more, it certainly increases the odds that a tradable pullback and possibly more, are substantially evelated at this time. 60-minute chart: QQQ 60-min July 10th Zooming out to the more significant daily time frame, I'm watching for a break below this uptrend line/rising wedge pattern in QQQ for a potential swing [...]

2018-07-10T11:09:17+00:00Jul 10, 2018 11:09am|Categories: Equity Market Analysis|Tags: , |3 Comments