6 replies to this topic

[LMF]

NDX during April with no election during the year is one of the strongest months.....up 18-4 since 1975.  And 11-1 since 1995 with an average gain of 6.4%.  I'm also working on weekly performance based on which Friday of the month......the week after expiration is also strong, up 27-12 since 1980 (all years included since the elections don't seem to affect things weekly). 

 

The rare diamond formation is making an appearance on TQQQ again.....forming since Weds this week.  So far this looks like a continuation move with the on-going upwave on the 60 min chart.  They should be able to get 68 and change out of it atleast......possibly up to 69. 

Edited by LMF, 25 April 2019 - 06:28 PM.

[K Wave]

Watch AMZN here today.

 

If this gap up fails to hold, could get very ugly on NDX today....

[K Wave]

That is one ugly 15 min stick on AMZN...let's see if we get a follow up one that takes out the gap....

[K Wave]

INTC getting hammered...not quite as bad as 3M yesterday, but ugly....

[K Wave]

And there's the gap fill....

[K Wave]

Starting to look like AMZN bulls may have successfully defended the Gap...

 

Huge pivot now set.

 

As long as it holds, 2K test not out of the question...

[LMF]

Nasdaq 1 minute tick cumulative was pretty much straight up today, except for about 15 miniutes off the the open.  The problem for the bears is that the daily MACD has not even started to diverge with price yet.....TQQQ which shows it the clearest.  I'm more used to seeing a washout daily close atleast once a month on TQQQ or a few times, but the bears over cooked it in December with 6 days in a row, and a total of 7 washout closes that month.  And the last one was back on January 3.  It's been close several times since then, but the bulls aren't in the mood for it after December.  It can go higher and higher until enough selling pressure finally develops.