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Nasdaq Well Under 6371 Now...

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#1 SemiBizz

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Posted 11 August 2017 - 09:10 AM

So for this morning we have hourly resistance at 6260 and daily at 6265.

 

Support at 6237

 

We failed to test 6193, so a bounce is under way...

 

Now, we have VERY STRONG VOLUME, so this bounce should NOT BE TRUSTED.

 

This is one FAST MARKET and one piece of news can send this to new lows in literally picoseconds....

 

Be VERY CAREFUL LONG.

 

I closed out my remaining short positions and flipped some premarket DUST...

 

And now just SITTING ON HANDS.


Edited by SemiBizz, 11 August 2017 - 09:11 AM.

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#2 SemiBizz

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Posted 11 August 2017 - 09:27 AM

WARNING.... HUGE 3 min GAP DOWN IN GS here...

 

I mean LARGE


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#3 SemiBizz

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Posted 11 August 2017 - 09:39 AM

WARNING.... HUGE 3 min GAP DOWN IN GS here...

 

I mean LARGE

 

GS should have generated more volume on that dip, might see it flip right back up...

Could be the NYSE specialist trying to force a bottom.. we will see.
 


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

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#4 SemiBizz

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Posted 11 August 2017 - 12:22 PM

So for this morning we have hourly resistance at 6260 and daily at 6265.

 

 

 

Timing of the high of 6261 says another high coming this afternoon  retest anyway


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#5 SemiBizz

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Posted 11 August 2017 - 01:14 PM

 

So for this morning we have hourly resistance at 6260 and daily at 6265.

 

 

 

Timing of the high of 6261 says another high coming this afternoon  retest anyway

 

 

As expected, 6264 now... 6266, 6281 next resistance levels...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#6 SemiBizz

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Posted 11 August 2017 - 01:20 PM

There's 6266 now... little pullback then another run at the high, which came on 3 min stronger volume...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

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#7 SemiBizz

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Posted 11 August 2017 - 01:23 PM

Plenty of room for retracement... a simple .50R takes Nasdaq back to that 6319 area...


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1