?The NASDAQ witnessed a sharp decline of approximately 4% yesterday, extending its overall downturn to nearly 13.5% in just three weeks, indicating a strong bearish sentiment. ?On the other hand, Nifty IT has so far been holding above the 100-week exponential moving average (WEMA), which has been acting as a crucial support level. ?However, given the significant slide in NASDAQ, there is a possibility that this support could be breached, which might accelerate further weakness in the IT sector. ?If the breakdown occurs, two minor support zones could come into play and potentially act as temporary demand areas. ? Key Question: What Lies Ahead? ?Will the IT sector continue its downward trajectory, or is this merely a short-term correction within a larger trend? ?Keeping a close watch on price action to gauge whether the sector can stabilize or if further downside is imminent. What’s your take on this? Drop your thoughts in the comments! Disclaimer: This analysis is purely for educational purposes and does not constitute trading advice. I am not a SEBI-registered advisor, and trading involves significant risk. Please consult with a financial advisor before making any investment decisions.
The S&P 500 (SPX) has officially closed below its 200-day moving average, a significant technical event that traders and institutions closely monitor. This marks the first time since late 2023 that the index has broken this key support level, signaling a potential shift in market sentiment. ? Why This Matters For those who don't know, the 200-day SMA is widely viewed as a long-term trend indicator. A decisive close below it often triggers increased selling pressure as institutions adjust risk exposure and algorithms shift to a more defensive stance. ? Bearish Momentum Building Recent price action has been decisively bearish, with heavy selling over the last few sessions. If bulls fail to regain control, the market could be setting up for further downside, with key support levels now in focus. ? Key Levels to Watch • 200-day SMA: Now a potential resistance level • Support zones: Recent lows and major Fibonacci retracement levels • Volatility indicators: VIX spike and sector rotation into defensive plays (both are currently in progress) Traders will be watching closely—will buyers step in and defend key levels, or are we looking at the start of a larger correction? ⚡ What’s your take? Is this just a temporary shakeout, or are we heading lower? Drop your thoughts below!
I am guessing a bit more downside before we see a relief rally. The AI bubble is starting to unwind, and that falling knife is sharp. I am patiently waiting for some version of a short-term bottom. You can see in the chart that price is has several key support lines within near reach. I would expect testing and hopefully finding some support in the coming days. If it is like the COVID bubble unwind, then we could see a strong reverse rally out of this range. However, I think it is pretty clear QQQ is in correction with a convincing loss of the 200 day SMA. https://www.tradingview.com/x/locFHhnj/ https://www.tradingview.com/x/TN8IoWqV/
I still lean towards the idea of a delayed right translated cycle for BTC. Key support levels to watch are around FWB:73K — if we dip to this range, I anticipate strong buying pressure and a potential bounce. However, if we slide further to the $63k-$62k zone, it could signal a dangerous reversal and a possible downtrend. Right now, it’s all about staying prepared. I’ve got some cash on the sidelines, ready to act either way. Let’s see how this plays out. ? #Bitcoin #CryptoAnalysis #TradingView #BTC
Trend Overview: The DXY has been in a strong bullish trend recently, driven by market sentiment favoring the US dollar due to strong economic data and expectations of continued Federal Reserve hawkishness. The index has shown resilience at key support levels and is trending upward. Current Price Action: The DXY is currently trading around the 104.20-104.50 level (assuming recent data), with the potential for a move toward the 106 zone, which is a key resistance area. Support and Resistance Zones: Key Resistance Levels: The 106.00 zone is the key resistance area. This is a major psychological level as well as a technical level from previous price action. A break above this level would suggest further bullish momentum toward 107.50 or even higher. Intermediate Resistance: The 105.50 zone could be an interim resistance level that needs to be overcome before targeting 106.00.
As you know,we are bullish. market just made a new higher high and is retracing to the bullish order block before going long. however that alone in itself is not enough reason to go long. i want to see and observe market character around the bullish order block before i go long.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 230/61.80% Chart time frame: D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress: B A) Keep rising over 61.80% resistance B) 61.80% resistance C) 61.80% support D) Hit the bottom E) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provides these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Gold is in a short-term corrective downtrend. Intraday trading waiting to sell at the potential zone 2905-2909 SL 2-3 price away from the potential zone 2908 Safe TP at: 2880-2885 #xauusd
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 166/61.80% Chart time frame: D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress: C A) Keep rising over 61.80% resistance B) 61.80% resistance C) 61.80% support D) Hit the bottom E) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provides these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 3.99%/61.80% Chart time frame: D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress: C A) Keep rising over 61.80% resistance B) 61.80% resistance C) 61.80% support D) Hit the bottom E) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provides these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.