I understand the narrow breadth of NDX. Has been that way for some time. There still is no scenario under which an ETF should divergence this starkly from the underlying index. Very funky indeed! 😎
It may have something to do with this. Remember: it's an ETF.
"QQQ has a dividend yield of 0.55% and paid $2.64 per share in the past year. The dividend is paid every three months and the last ex-dividend date was Mar 18, 2024."
The NDX pays no dividends, as it is just a raw calculation (average) of stock prices. TJ
As I have said before, until / unless NDX crosses 20,434 it is in diagonal (3). If it crosses, then it is likely in impulse (3). Still, a (3) either way. I am not a 'seer' and cannot tell what irrational people might do - how far they will go. I only count waves. The broader market has a few more checks-and-balances on it.
ES 5-min: intraday. Very, very overlapping since the 7 AM low in the futures. Either a diagonal, a double zigzag, or a 1,2,i,ii nest at this point. Possibly part of a triangle. CASH looks 'nothing' like this.
That chart is a good 150% improvement over the previous ones shown. I can see the reasoning that went into where and how to label the waves. Good work; keep making the improvements. Soon you'll discover something fantastic, and how TEFPM can help simplify your task! TJ.
BTW trading view has the NQ high at 19959 and the last 90 min candle high was 19958.75 close was 19957. does it mean anything? We shall see Sunday night. Have a great weekend all.
This is a favorite long-term-chart at the moment b/c it sure looks like the decline happened in five-wave, not three. The decline began with a leading diagonal.
NVDA by my chart on TV has a 4 hr harami cross. Of course NVDA needs to print a red candle tomorrow. You never know though it could keep subdividing up. I noticed the cross and thought I might post the chart. A couple things of note Robert Prechter went short last week on the NDX and SPX. The NDX position was stopped out but the SPX is still alive. Another thing there are many videos on you tube all talking about the glaring divergences. I don't know if that means anything. The count matters most I think. https://i.postimg.cc/x1TKbjSs/Screenshot-181.jpg
One more chart of the NQ futures tonight so far of which I'm not proficient enough to tell if this is a EDT. Notice that we have a gap over the LT trend line. Thanks TJ https://i.postimg.cc/G2kqXRxT/Screenshot-182.jpg
Ringing the bell at the top! We shall see.
ReplyDeleteA-B-C down into the fall? 3-3-5 or 5-3-5?
Europe leading the way down as bond spreads widen. Bank stocks getting hit.
ReplyDeleteDoes anyone know why we have a green print in Triple Qs with NDX down 40 handles?! Never seen that before!
ReplyDeleteTHERE ARE A FEW STOCKS....NFLX---MSTR EVERYONES PILING INTO-----WHEN Qs go red ---SHORT
DeleteI understand the narrow breadth of NDX. Has been that way for some time. There still is no scenario under which an ETF should divergence this starkly from the underlying index. Very funky indeed! 😎
DeleteIt may have something to do with this. Remember: it's an ETF.
Delete"QQQ has a dividend yield of 0.55% and paid $2.64 per share in the past year. The dividend is paid every three months and the last ex-dividend date was Mar 18, 2024."
The NDX pays no dividends, as it is just a raw calculation (average) of stock prices.
TJ
NDX is no alternat too?
ReplyDeleteAs I have said before, until / unless NDX crosses 20,434 it is in diagonal (3). If it crosses, then it is likely in impulse (3). Still, a (3) either way. I am not a 'seer' and cannot tell what irrational people might do - how far they will go. I only count waves. The broader market has a few more checks-and-balances on it.
Deletehttps://www.tradingview.com/x/CXSckmtS/
TJ
ES 5-min: intraday. Very, very overlapping since the 7 AM low in the futures. Either a diagonal, a double zigzag, or a 1,2,i,ii nest at this point. Possibly part of a triangle. CASH looks 'nothing' like this.
ReplyDeleteES 5-min Chart Since 7 AM low
TJ
P.S. Barchart is on Central Time so low was 6 AM CT. TJ.
DeleteThinking nested waves too...
DeleteThanks
ReplyDeleteThe ES wedge has resolved to the upside, at least temporarily. TJ.
ReplyDeleteCould fail 19653.93 on the NDX
ReplyDeleteAnyway my count on the NQ_F as TJ knows I am a amateur. Just thought I would share. Thanks TJ
ReplyDeletehttps://i.postimg.cc/wMTcRKn8/Screenshot-180.jpg
90 minute
DeleteLooks plausible. Thanks for sharing your chart. 😊
DeleteWelcome Henry
DeleteThat chart is a good 150% improvement over the previous ones shown. I can see the reasoning that went into where and how to label the waves. Good work; keep making the improvements. Soon you'll discover something fantastic, and how TEFPM can help simplify your task! TJ.
DeleteThanks TJ, after looking at the count that final 5 could be the end of 3 with another 4 and 5 to come.
DeleteBTW trading view has the NQ high at 19959 and the last 90 min candle high was 19958.75 close was 19957. does it mean anything? We shall see Sunday night. Have a great weekend all.
ReplyDeleteTj. Whenever possible do a long term chart of your fav chart :)
ReplyDeleteThis is a favorite long-term-chart at the moment b/c it sure looks like the decline happened in five-wave, not three. The decline began with a leading diagonal.
DeleteA Favorite Chart
The third wave is confirmed by the deepest value on the RSI, and wave five is on a divergence.
TJ
Thanks but I meant for any index. Any which you love.
DeleteNVDA by my chart on TV has a 4 hr harami cross. Of course NVDA needs to print a red candle tomorrow. You never know though it could keep subdividing up. I noticed the cross and thought I might post the chart. A couple things of note Robert Prechter went short last week on the NDX and SPX. The NDX position was stopped out but the SPX is still alive. Another thing there are many videos on you tube all talking about the glaring divergences. I don't know if that means anything. The count matters most I think.
ReplyDeletehttps://i.postimg.cc/x1TKbjSs/Screenshot-181.jpg
One more chart of the NQ futures tonight so far of which I'm not proficient enough to tell if this is a EDT. Notice that we have a gap over the LT trend line. Thanks TJ
ReplyDeletehttps://i.postimg.cc/G2kqXRxT/Screenshot-182.jpg
I'm not proficient enough to tell if this is a EDT but a chart of the NQ_F tonight so far. https://i.postimg.cc/G2kqXRxT/Screenshot-182.jpg
ReplyDeleteA new post is started for the next day.
ReplyDeleteTraderJoe