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NASDAQ Consolidation - 7740 Target

100 points soutn from here

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#1 SemiBizz

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Posted 13 August 2018 - 10:34 AM

OK so expect a consolidation to test 7740 now... we "jumped the creek" there and never consolidated it... so that's the support test we are looking for from here...

 

 


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#2 SemiBizz

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Posted 13 August 2018 - 02:56 PM

The beauty of this is that the "market" has been trained to buy the dips, and that just sets up great day trading opportunities...

 

Today's volume was light, expect more bounce overnight and early tomorrow, unless the Turkish Lira croaks again overnight...

 

As long as the suckers keep buying these dips, the "forced sellers" in the market aren't going to fight these bounces...

 

When volume picks up again to the downside, then we'll get some lows that stick, gap down on volume next day type of stuff...

 

Knife catchers come in all varieties... gold and PMs, technology, financials... all of it is going down, but the trained seals continue to gobble up the rotten fish until they puke...


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/VolumeDynamics  http://parler.com/Volumedynamics

#3 LMF

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Posted 13 August 2018 - 07:48 PM

I use set of 9 technical indicators on TQQQ and 5 are in the crap mode right now.....one of them is the trading signal from AmericanBulls.com.  It's in cash right now after a sell signal on Friday.  But TNA is even worse with a Short signal.  TQQQ has downwaves in the 15, 30, 60 minute time frames.  There's no way it's going up in that configuration.....any bounce will be sold.  The TQQQ picture is probably going to get a little worse tommorow, but it's trying to stay afloat.  Just more time to repair the chart damage. 



#4 SemiBizz

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Posted 15 August 2018 - 11:36 AM

7732 and the bounce...

 

Next time I post one of these, you better pay careful attention!

 

Somebody knows where the market is headed...

 

yes.gif


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/VolumeDynamics  http://parler.com/Volumedynamics

#5 SemiBizz

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Posted 15 August 2018 - 11:38 AM

I covered my shorts and waiting to reload... we still have a couple more days left in this window...


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/VolumeDynamics  http://parler.com/Volumedynamics

#6 CLK

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Posted 15 August 2018 - 12:02 PM

"jumped the creek"

 

 

Are you talking about a TL break off the top on the hourly ? 



#7 SemiBizz

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Posted 15 August 2018 - 12:09 PM

TL are only confirming indicatiors in my work...

 

7739.71 - 6/22/18

 

Last Day of EXTREME VOLUME HIGH

 

They get tested over and over...


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/VolumeDynamics  http://parler.com/Volumedynamics

#8 SemiBizz

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Posted 15 August 2018 - 01:13 PM

We retraced close to a 50R of the range today on Nasdaq...

 

Now it wants to retest...

 

7740 again.

 

Over and Over...


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/VolumeDynamics  http://parler.com/Volumedynamics

#9 SemiBizz

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Posted 15 August 2018 - 02:05 PM

Failed to bust 7740 down...

 

Back to try .50R now 7782


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/VolumeDynamics  http://parler.com/Volumedynamics

#10 SemiBizz

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Posted 15 August 2018 - 02:34 PM

7782... and the pullback


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/VolumeDynamics  http://parler.com/Volumedynamics