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Nasdaq Peak by Friday 6198

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#11 alexnewbee

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Posted 24 May 2017 - 06:57 AM

Again 30 points left. 


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#12 SemiBizz

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Posted 24 May 2017 - 07:39 AM

Works for me...

 

It rejected the move down at the .618R level at 6103

 

So it wants to test that Fibonacci Extension level at 6198.


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#13 SemiBizz

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Posted 25 May 2017 - 07:46 AM

Nasdaq Futures up 22 here...

 

That's going to put the .618X target within striking range...

 

Implied Nasdaq opening 6185+


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#14 alexnewbee

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Posted 25 May 2017 - 08:15 AM

Nasdaq Futures up 22 here...
 
That's going to put the .618X target within striking range...
 
Implied Nasdaq opening 6185+


Yes, then 2 days of distribution and island reversal, probably.
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#15 SemiBizz

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Posted 25 May 2017 - 08:47 AM

A .618R reversal is usually not consolidated, it's either a sharp reversal, or a big gap down the next day...

 

Represents a change of texture.

 

We sort of had that last week with the gap down off the high...

 

at any rate, the pullback was rejected at the 6103 test, now we're testing the idea of additional expansion...

 

Got popcorn?


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#16 SemiBizz

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Posted 25 May 2017 - 09:17 AM

6198...


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#17 alexnewbee

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Posted 25 May 2017 - 09:41 AM

6201
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#18 SemiBizz

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Posted 25 May 2017 - 10:02 AM

See where it finishes...

 

If we're getting a rejection, the standard for that at a minimum would be a gap fill...

 

6163.02...


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#19 SemiBizz

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Posted 25 May 2017 - 10:29 AM

 

Hmmm, I don't see any news...


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#20 SemiBizz

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Posted 25 May 2017 - 11:17 AM

Crude is down over $2 on the day...

 

Check that out...


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