Hey Guys -
Today was a gruesome reversal of an initially modest bullish recovery this morning after Iran-Israel headlines started somewhat de-escalating (relatively) over the weekend. I will share more of my view on this geopolitical situation that’s brewing in the Middle East below. But first let’s recap.
While some of my personal bounce levels worked for NQ (Nasdaq-100 Proxy), I do acknowledge that any bounce at my guided areas may have been too fleeting (short-lived) for folks to take advantage of given such bearish intensity.
In my pre-market, I looked for the following with Blurb seen below sent before the opening bell.
I was looking for potential bounces in NQ to emerge at the following levels, if seen: 18250, 18200, 18150.
The potential for a direct continuation higher in the most bullish case in the pre-market.
So what happened today? Let’s see below.
Zooming in on a lower timeframe chart for today’s session, we can see that first, there was modest upside continuation in the pre-market action leading up to the opening bell. Later in the day when 18250, 18200, and 18150 offered on NQ, they all offered a 40-50 point bounce - even if though such bounces were very short-lived.
My methodology is typically able to detect when a bounce reaction may occur. It is very difficult for me to determine how long such a bounce will last. This is an important concept that long-time followers will have noticed about my forecasting. The more experienced a member becomes in my Community, the more they will be able to harness my research/work.
This is also why I place a lot of care/attention on developing educational guides - like the one on scalping - to help folks take full advantage of my work.
In the meantime, I will share my observation on the current geopolitical situation and what the next steps on markets may be by sharing Orderflow data. I’ll also share my thinking on why China stocks are seeing such particular weakness during this moment in time.
We’re entering a more challenging environment. Don’t worry though - I do not yet think we are entering a renewed Bear Market. At least not yet.
Orderflow, NQ (Nasdaq-100) Key Levels, and List of Stocks that I’m watching below.