NDX nearing first KEY support: Nasdaq 100 possible bounce points

19 gen 2022

Show here are two different Fibonacci sequences.
Left chart is from "2016 Santa Claus Rally" onward.
Upper Right is the "2020 Covid Stimulus" sequence.

Lower Right has both, with highlighted confluence zones.
Thus we have a precise "roadmap" of key zones of interest.
Each zone should at least react, and one should reverse it.

The "top" was exactly where expected, thanks to the FED.
The "dip" so far is looking more like a "correction" now.
The "bottom" will be at A fib, but WHICH one to be seen.

14,936-959 is the first strong support to watch.
13,788-885 is a stronger one that should bounce.
11,780-893 is the worst case, MUST-HOLD zone.

Drag DOWN on the PRICE scale to see fibs above/below.
Hover on lower center of any pane to BLOW UP just that one.
If unable to use this 3-pane chart, see this Single Pane version (click).

20 gen 2022

Nota

( ( PING ) )

Genesis fib hit towards end of NY session

And this 1min view is not a good sign: Ping from under side. EVERYBODY "heard" that.
Reject or break above will say a LOT to a LOT of traders.

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28 gen 2022

Nota

Main Target Hit

Tenuously holding the strong support at 13.8k

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Zoom in (15 min) with some notes added to on snap: Pierce of major fib at 13,787 is worrisome.
Subsequent higher low on minor fib a decent sign.
Must flip the major fib at 14,373 ASAP, like tomorrow, Friday.

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29 gen 2022

Nota

BOTTOM IN ?

Friday close ABOVE our key fib (from last snapshot above)

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Zoom IN (3 min) Looking at the EW structure of that last wave up: we have a NICE 5-wave "impulse".
Of which the wave 1 and 3 also have prefect 5 subwaves.
So a VERY GODD sign that the wave has "purpose".

Putting a fib on that wave: We see it has "Fib legs". Perfect Pings on key strands.
And a LOUD ping to rocket thru the major fib at (thick) at 14,373.
And we closed the WEEK hugging the very top of today's bounce wave.

Based on the above EW structure and the Gold+Blue fib, we can add a "Macro" Impulse and Fib as Blue Stripe: That macro impulse is the "wave 1", which itself had a "micro" impulse.

Same snap as above but looking above: We have the next two targets:
Macro 2.618 (micro 11.089) at 14,552, and
Macro 4.236 (micro 17.942) at 14,990.

Placing all of the above drawings onto our original plot: our Wave target is just hair above an Originally mapped support.

Thus we can adjust our original zone to include the new fib for our final target zone of 14,936-990.
So we can expect to hit 15k and pullback from there.

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SUMMARY:
- looking very much like Bottom is in
- Last wave of the week was beautiful
- Look for 15k attempt then a pullback.

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