{quote} I joined you. {image}
- #902
- Nov 6, 2024 1:23pm Nov 6, 2024 1:23pm
- Joined Jan 2016 | Status: Trader | 3,906 Posts
{quote} I joined as well
- #904
- Nov 6, 2024 5:09pm Nov 6, 2024 5:09pm
- Joined Jan 2016 | Status: Trader | 3,906 Posts
End of day analysis!
As soon as uncertainty and risk from US elections were erased, equities, as expected, moved up and created a new ATH.
NQ (spot, non futures) that was lagging behind, finally made a new ATH and provide a full green candle.
I was expecting a trap at NY session, but it didn't happen and price moved up. If we didn't got the ATH and only an extension, it would be a great indication that the move up will continue.
Tomorrow, we have the FED with a new cut.
A continuation up should be the case, but today's ATH might tell otherwise. Tomorrow's close will be very important.
As soon as uncertainty and risk from US elections were erased, equities, as expected, moved up and created a new ATH.
NQ (spot, non futures) that was lagging behind, finally made a new ATH and provide a full green candle.
I was expecting a trap at NY session, but it didn't happen and price moved up. If we didn't got the ATH and only an extension, it would be a great indication that the move up will continue.
Tomorrow, we have the FED with a new cut.
A continuation up should be the case, but today's ATH might tell otherwise. Tomorrow's close will be very important.
- #914
- Nov 7, 2024 3:36pm Nov 7, 2024 3:36pm
- Joined Jan 2016 | Status: Trader | 3,906 Posts
End of day analysis!
From FA perspective:
1- FED confirmed the good status of US economy: Employment at the right level and Inflation is under control to meet the 2% in the LT; but FED recognizes that hiccups (inflation) might and already happened.
2- Risk is completely faded out after US elections.
So all seem good news for stocks and equities.
From TA perspective, NQ provided another strong bullish day.
As I mentioned, a zigzag should happen to provide a better value for buyers. Hence, today or tomorrow could be the end of this move up; it's very expensive to long at the current level. NQ should/must retrace...
From FA perspective:
1- FED confirmed the good status of US economy: Employment at the right level and Inflation is under control to meet the 2% in the LT; but FED recognizes that hiccups (inflation) might and already happened.
2- Risk is completely faded out after US elections.
So all seem good news for stocks and equities.
From TA perspective, NQ provided another strong bullish day.
As I mentioned, a zigzag should happen to provide a better value for buyers. Hence, today or tomorrow could be the end of this move up; it's very expensive to long at the current level. NQ should/must retrace...
- #917
- Edited 7:45am Nov 8, 2024 7:28am | Edited 7:45am
- Joined Jan 2016 | Status: Trader | 3,906 Posts
End of day analysis! From FA perspective: 1- FED confirmed the good status of US economy: Employment at the right level and Inflation is under control to meet the 2% in the LT; but FED recognizes that hiccups (inflation) might and already happened. 2- Risk is completely faded out after US elections. So all seem good news for stocks and equities. From TA perspective, NQ provided another strong bullish day. {image} As I mentioned, a zigzag should happen to provide a better value for buyers. Hence, today or tomorrow could be the end of this move...
In order to get a real retrace, we need buyers to take profit. If this happens today, price will go fast down and weekly close will be around 20500.
Europe opening session gave a sign of it. NY with Monday holiday (this coming), might give the greenlight.
- #918
- Nov 8, 2024 8:28am Nov 8, 2024 8:28am
- Joined Jan 2016 | Status: Trader | 3,906 Posts
I'm going to take the risk and put a Sell Lmt order.
- #920
- Nov 8, 2024 9:39am Nov 8, 2024 9:39am
- Joined Jan 2016 | Status: Trader | 3,906 Posts
I'm going to take the risk and put a Sell Lmt order. {image}
I've to go. GL and see you later!
