Nasdaq Futures NQ Trading Diary

Will start breaking below support on consumer confidence and retail sales coming up today.

Video Analysis


News was deflationary today, so looks like they want to test the POC's above.
I am waiting for the IB to complete before re-entering today.

Wow, what an amazing revelation for me. Thanks so much for the weighted names info, it worked. I became a buyer today on the bounce. Have a great weekend.

There is always more to the headlines and trading headlines generally leads to someone selling newspapers.
The market is trying to weigh up how quickly the Fed will raise rates, how many times they are likely to do so and to what level they'll take them.
Every time the Fed talk the markets try and reprice accordingly. Having an inclining of what they are trying to achieve goes a long way. But I find it boils down to following the market rather than trying to predict it.


Nasdaq leading stocks are within their Initial Balance, the rest of them have hardly travelled since the first hour but they are weakening.

Bought the dip in the Globex session #NQ

Apple etc. never really gave the NQ a chance to trend today.

We now have a 1000 point range potentially from 15150 to 16150 in which this week could grind. A break below 15150 would be bearish for more reasons than one

NQ/NDX/Nasdaq100 is clearly in a corrective period. So I am not expecting big moves for now. Just be nimble and keep your eye on the liquidity levels

The short covering rally is here now. Time to buy.

we're definitely in a correction but there are lots of bearish things happening and things could get worse. I try and keep track of everything in my blog https://www.macrobriefing.com/post/g...tralian-dollar

Just after today's Initial Balance was completed there was an opportunity to go long on the Nasdaq.
Unfortunately, the leading stocks couldn't catch a bid beyond their IB high and a false breakout occurred. There were several opportunities to get long, get to BE or get out. For the remainder of the London session, the leading stocks stayed within their IB despite the rest of the Nasdaq attempting to go higher. Every rip was sold into, until the leading stocks eventually broke to the downside and dragged the index and futures with them.


there had been a Treasury auction but I haven't noticed this being an issue before. Unlike the 10-year Notes and 30-year Bonds


The catalyst to accelerate the sell-off was a handy tip-off from the WSJ, which I imagine will amount to no further downside pressure now the 150% has been hit.


accelerated to the measured move, bulk of stocks are still within the IB but pressing the IB low


so the rest of the stocks decided to follow lower and breakout of the IB. This has pushed the NQ lower to the next extension



The trending move is definitely when the breakout is backed up by all 100 stocks trading outside of the Initial Balance

Now it is getting very exciting. On the Daily Chart we are at the 400 Day EMA Which corresponds to the 100 and 200 Week EMA which have converged together from months ago.

Now that the banks have obliterated every long position they are finally going to buy so they can distribute later.

the 14,800 Gap-fill on the NDX has been filled at least, may need a little push down in RTH but I agree, this is a moment where the bulls need to step in to keep the bullish structure intact.

Morning Prep

Didn't trade today, plus FOMC on Wednesday so things will be tricky tomorrow

March rate hike is certain but I'm thinking the market has already factored it in.

Been watching the markets of late,


Keeping an eye on price action when the 45% leading stocks don't follow through with the other 55%.

When they join in the party really begins, the question is how do you trade it? Some may say step aside until everything lines up with the original plan (what i did today) others would say adapt.


If I adapt to every trading day, it means I wouldn't be able to necessarily code this up into an algo. If I sidestep until everything is perfect, an algo is possible but the trade opportunities may be less.