NASDAQ: Are we there yet? (follow up from previous idea)
Mis à jour
this is a quick follow up from my previous chart reading using the weekly TF
- we hit scenario #2, almost spot-on
- market is showing some signs of recovery. we also see some good earnings results that are not (hopefully) being lost back (AMZN, UBER, PINS, even AAPL i consider "good")
but
- we still not there yet, though if we check the daily chart (below), the lower indicators are showing a lot of "green" signs, and we're above major MA's (50 and 100), the weekly view above still needs to fully recover
- the signal i look for is that VADER (on the weekly) needs to show green in both the fast & slow before we consider ourselves in real recovery
* what to look for next?
---------------------------------
- there are some strong resistance ahead - big confluence zone (marked on the chart)
- and even before we get there, the market needs to ease-up and do a re-test, then if the re-test is good, move up, then address the resistance zone .. so we're still few weeks away from recovery .. and when recovery happens, it's gonna be shopping season :)
- The Usual Disclaimer:
This is just me thinking aloud - please trade safely and do your own thorough analysis. Good luck
- we hit scenario #2, almost spot-on
- market is showing some signs of recovery. we also see some good earnings results that are not (hopefully) being lost back (AMZN, UBER, PINS, even AAPL i consider "good")
but
- we still not there yet, though if we check the daily chart (below), the lower indicators are showing a lot of "green" signs, and we're above major MA's (50 and 100), the weekly view above still needs to fully recover
- the signal i look for is that VADER (on the weekly) needs to show green in both the fast & slow before we consider ourselves in real recovery
* what to look for next?
---------------------------------
- there are some strong resistance ahead - big confluence zone (marked on the chart)
- and even before we get there, the market needs to ease-up and do a re-test, then if the re-test is good, move up, then address the resistance zone .. so we're still few weeks away from recovery .. and when recovery happens, it's gonna be shopping season :)
- The Usual Disclaimer:
This is just me thinking aloud - please trade safely and do your own thorough analysis. Good luck
Note
Here we go, a re-test and then attempting to breach the resistance zonethe good news here is, this is the first time we break above the 100SMA in 8 months, since the drop started in Jan -- can the bulls defend their grounds? Feel free to share thoughts
Note
Absolutely fantastic!! Pushing with persistence into the resistance zone. Next week (or 2) will confirm - but this is reaaaaly good for a recovery
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.