Nasdaq 100 - NDX - Where to Next?
Diupdate
A lot of Acknowledgement today that SPX filled the gap from the February Crash - it was noted that 'its as if it never happened.'
I sold today at the red arrow on the /NQ Futures - and I was considering where exactly to target so that's why I drew up this chart - thought it was worth sharing.
As the /ES and SPX slowly grind higher and pulverize volatility the NDX and /NQ Futures are little more interesting - even manageable.
The hybrid chart shown here has virgin points of controls marked down - the exact numbers are used from the /NQ Futures however the NDX is about 30 points higher but its the numbers that matter the most.
Surprisingly we did not visit yesterdays point of control - and it wasn't that far away, too much work for a sleepy August day? This will get visited most likely this week, perhaps event he lower vPOC.
In purple and belonging on the NDX chart is a gap below us - this will get visited as well. When? As made SPX has made target mostly sooner than later. The only thing left for the SPX is all time highs which are 2% away.
On the /ES there also targets that need visiting, vPOC at 3227 and getting away from us 3160 vPOC of course drops happen must quicker so we can't rule it out.
Volume is declining - the argument can be made for dog days of summer, or we're running out of buyers.
Daily NDX Volume
Aug 05, 2020 3,834,801,618
Aug 04, 2020 3,973,570,000
Aug 03, 2020 4,173,600,000
Jul 31, 2020 4,418,390,000
I sold today at the red arrow on the /NQ Futures - and I was considering where exactly to target so that's why I drew up this chart - thought it was worth sharing.
As the /ES and SPX slowly grind higher and pulverize volatility the NDX and /NQ Futures are little more interesting - even manageable.
The hybrid chart shown here has virgin points of controls marked down - the exact numbers are used from the /NQ Futures however the NDX is about 30 points higher but its the numbers that matter the most.
Surprisingly we did not visit yesterdays point of control - and it wasn't that far away, too much work for a sleepy August day? This will get visited most likely this week, perhaps event he lower vPOC.
In purple and belonging on the NDX chart is a gap below us - this will get visited as well. When? As made SPX has made target mostly sooner than later. The only thing left for the SPX is all time highs which are 2% away.
On the /ES there also targets that need visiting, vPOC at 3227 and getting away from us 3160 vPOC of course drops happen must quicker so we can't rule it out.
Volume is declining - the argument can be made for dog days of summer, or we're running out of buyers.
Daily NDX Volume
Aug 05, 2020 3,834,801,618
Aug 04, 2020 3,973,570,000
Aug 03, 2020 4,173,600,000
Jul 31, 2020 4,418,390,000
Catatan
Quite the Ramp today -but if you look at the POC for the day, its lower on the /NQ.Not sure this correct but volume is way off on the NDX:
Aug 06, 2020 567,211,894
Trading ditutup: target tercapai
Well target is reached - but as usual the markets surprise, in this case to the upside.
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