THE WEEK AHEAD Ending April 8
The week started UP but finished DOWN, so where does the market go from here? $E-mini NASDAQ 100 Futures(JUN4)(NQmain.US$
We're standing on a market turning point, short or go long?🤷♂️
The charts show indecisiveness on almost every ticker: Indicies $SPDR S&P 500 ETF(SPY.US$ $Dow Jones Industrial Average(.DJI.US$ , OIL $Crude Oil Futures(JUN4)(CLmain.US$ , GOLD $E-micro Gold Futures(JUN4)(MGCmain.US$ , SILVER $Micro Silver Futures(JUL4)(SILmain.US$ , VIX $VIX Index Futures(MAY4)(VXmain.US$
"IF YOU GET CONFUSED JUST LISTEN TO THE MUSIC PLAY" -Jerry Garcia
We're standing on a market turning point, short or go long?🤷♂️
The charts show indecisiveness on almost every ticker: Indicies $SPDR S&P 500 ETF(SPY.US$ $Dow Jones Industrial Average(.DJI.US$ , OIL $Crude Oil Futures(JUN4)(CLmain.US$ , GOLD $E-micro Gold Futures(JUN4)(MGCmain.US$ , SILVER $Micro Silver Futures(JUL4)(SILmain.US$ , VIX $VIX Index Futures(MAY4)(VXmain.US$
"IF YOU GET CONFUSED JUST LISTEN TO THE MUSIC PLAY" -Jerry Garcia
NQ Weekly chart. March traded between the 100ma and 50ma while also getting rejected at resistance (yellow dashed line) ending on a semi bearish candle (semi shooting star, needs downtrend confirmation)
Daily chart shows the trading range between the 100ma (rejected advance) and the 9 and 12ma (showing support). I expect NQ to test support/resistance at 14600 (purple line) a long established range - how the stock reacts could show a direction.
4 hour on QQQ, shows bullish tendencies with bearish resistance. ![]()
2 hour QQQ shows bearish trend with bullish tendencies. ![]()
If the Q charts won't tell us maybe VIX $CBOE Volatility S&P 500 Index(.VIX.US$ will.
4 Hour shows a bullish trend between the 20ma and 50ma which trend will win![]()
4 Hour shows a bullish trend between the 20ma and 50ma which trend will win
The Daily shows a bullish trend with RSI and MACD. VIX is also up against a trendline as resistance.
I posted on Friday that there is an epic battle between the VIX and the indicies. VIX wanted to go up and pull the indicies down but the indicies wanted to go up and drag the VIX down. The battle continues.
Continuing the chart confusion with OIL $Micro Crude Oil Futures(JUN4)(MCLmain.US$ The chart is the Crude Light Futures. USO tracks the futures. $United States Oil Fund LP(USO.US$
The Monthly chart , only shown to give reference to 2012 sustained price rally and to show the 3 main channels which will be in the following charts
Continuing the chart confusion with OIL $Micro Crude Oil Futures(JUN4)(MCLmain.US$ The chart is the Crude Light Futures. USO tracks the futures. $United States Oil Fund LP(USO.US$
The Monthly chart , only shown to give reference to 2012 sustained price rally and to show the 3 main channels which will be in the following charts
(orange) oil broke ten year channel. (white) convergence point shown zoomed in later
Day chart zoomed in of the approaching trend convergence (violet arrow and line). The newer trend is just over a year long, while the longer 10 year trend (purple) runs just below, for now. MACD shows a bearish trend with a possible larger bullish trend.
GLD $SPDR Gold ETF(GLD.US$ (ETF that tracks gold futures $Gold Futures(JUN4)(GCmain.US$ $E-micro Gold Futures(JUN4)(MGCmain.US$ ) Not the best instrument into gold, although it will follow the traded price. I only show the chart because it is the traded gold price.
That is a pennant/bull flag. Action tends to happen at the tip of triangles (either breakout or breakdown)
This is zoomed in on the same timeline. Gold is sitting right at the breakout/breakdown point, on an indecisive candle (MMs never make it easy to judge direction![]()
). Why do I believe it will breakout and not down? Experience, haha... Expand the timeline to see what kind of trend we are in.
Silver $iShares Silver Trust(SLV.US$ again an ETF that tracks futures price. $Micro Silver Futures(JUL4)(SILmain.US$ Not my favorite for exposure to silver
Remember MMs never make it easy![]()
? No signal for RSI or MACD On the daily, watch and monitor to see if silver bounces up off of yellow channel lines or drops to the corner of the cyan triangle before breaking out. Again zoom out to confirm trend
On the weekly the bull flag can be seen, with RSI and MACD trending up.
What a way to end a week and start a new months trading than with complete indecision!
Is it BULLISH or BEARISH???![]()
I believe NQ is still Bearish, there is a scenario where it could be trully bullish, and not a small push.
(everyone tries to push the markets one last time before the FED stops printing... that would normally drop gold/metals and oil but in this case I think it would be an all out run on all assets). I am playing it as Bearish but monitoring a bullish move to close my VIX and hedges $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $ProShares Ultra VIX Short-Term Futures ETF(UVXY.US$ $ProShares UltraShort QQQ(QID.US$
Market Bear/Bull? doesnt matter![]()
$SPDR S&P Metals & Mining ETF(XME.US$ $VanEck Oil Services ETF(OIH.US$ $SPDR S&P Oil & Gas Exploration & Production ETF(XOP.US$ $Energy Select Sector SPDR Fund(XLE.US$
Good Luck!![]()
Futures open in 2 hrs 👀![]()
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What a way to end a week and start a new months trading than with complete indecision!
Is it BULLISH or BEARISH???
I believe NQ is still Bearish, there is a scenario where it could be trully bullish, and not a small push.
(everyone tries to push the markets one last time before the FED stops printing... that would normally drop gold/metals and oil but in this case I think it would be an all out run on all assets). I am playing it as Bearish but monitoring a bullish move to close my VIX and hedges $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $ProShares Ultra VIX Short-Term Futures ETF(UVXY.US$ $ProShares UltraShort QQQ(QID.US$
Market Bear/Bull? doesnt matter
$SPDR S&P Metals & Mining ETF(XME.US$ $VanEck Oil Services ETF(OIH.US$ $SPDR S&P Oil & Gas Exploration & Production ETF(XOP.US$ $Energy Select Sector SPDR Fund(XLE.US$
Good Luck!
Futures open in 2 hrs 👀
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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SpyderCall : the inverted yields have everybody all outta whack.
im thinking we will have this indecisiveness and possibly some ugly red candles until the next FOMC meeting.
Then i think the Fed will surprise everyone. i dont think we will do 7 rate hikes into an inverted curve. Doesnt make sense to me. So on the next meeting it might be good.
Just a thought though. J Powell usually makes the market have unexpected swings
SpyderCall : plus recessions usually a year or more after the initial inversion. That is if the recession even comes at all. so i can see more new highs in the near future for sure. But in the very short term im expecting choppiness
Thelord : Futures are green. Historically april is a very bullish month. Vix seems very weak with 20 as resistance. Maybe we’ll see ATH in apr
iamiamOP Thelord: possible, I doubt it, but definitely possible. I would like to see futures green into open
Thelord iamiamOP: Btw what is bearish trend with bullish tendencies
Cuttnedgez : e
g $MacDonald Mines Exploration Ltd (BMK.CA)$ 100
iamiamOP Thelord: it's in an overall downtrend but spikes could happen. it's in a downtrend but sellers are decreasing and MACD is getting weaker on the sell and moving towards bullish. So it is in a longer downtrend but could be bullish for a time. and that could grow stronger to override the downtrend.
Thelord iamiamOP: I see. What is the tipping point you are looking out for to close all the vix positions
iamiamOP Thelord: VIX to break from the uptrend.... NQ to hold support (bounce up with volume) or pass 15000 and climbing might do it also.
Mr Trecherous : Your Content is pure gold bro #TeamCCXI
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