{"id":151593,"date":"2019-07-16T09:00:25","date_gmt":"2019-07-16T13:00:25","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=151593"},"modified":"2019-07-16T05:58:03","modified_gmt":"2019-07-16T09:58:03","slug":"nq-should-reach-8031-before-topping","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/nq-should-reach-8031-before-topping\/","title":{"rendered":"NQ Should Reach 8031 Before Topping"},"content":{"rendered":"
July 16, 2019<\/div>
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By TheTechnicalTraders.com<\/u><\/a><\/strong><\/p>\n

With earnings data starting to hit the markets and recent news that China\u2019s economic activity levels shrank to levels not seen in nearly 30 years, we believe our proprietary Fibonacci price modeling system is showing us a target level in the NASDAQ (NQ) that will likely be reached within the next 7 to 10 days.\u00a0 We believe once this target level is reached, the US stock market will immediately begin an extended topping formation with sideways price action and increased volatility) which will culminate in our August 19, 2019 setup date for a much deeper price correction.<\/p>\n

At this time, traders should start to prepare for this topping event and prepare for price resistance to be found as the NQ nears this 8031 level \u2013 only 60 pts away.\u00a0 If you are sitting on a bunch of profitable long trades, our suggestion would be to scale back 50% to 60% of these open positions and prepare for a top setup to begin within 7 to 10 days.\u00a0 The volatility we expect to see over the next 30 days will likely be 2x or 3x current levels.<\/p>\n

Nasdaq Daily Chart<\/strong><\/h4>\n

This Daily NQ chart highlights the Fib Target Resistance level and shows our proprietary Fibonacci price modeling system\u2019s current downside price targets (7760, 7400 and 7265).\u00a0 These downside price target will change as the new price peak is established near the 8031 price level.<\/p>\n

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Nasdaq Weekly Chart<\/strong><\/h4>\n

This NQ weekly chart highlights the same suggested resistance level (the YELLOW LINE drawn near the recent highs) and highlights deeper Weekly Fibonacci downside price targets near 6950, 6000 and 5950.<\/p>\n

Our expectations are that economic weakness and price rotation will set up and begin a downside price move on or near August 19, 2019, based on our cycle research.\u00a0 We believe this move will initially target a -6 to -9% downside price move, then extend into a much deeper price decline ending near the start of 2020 or within Q1 of 2020.<\/p>

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Free Reports:<\/p><\/div>\r\n

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<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

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<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

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See my\u00a0current trend and trade signals for the SP500 index<\/strong><\/a>\u00a0here.<\/p>\n

Conclusion:<\/h4>\n

Our researchers believe traders should be actively scaling back existing long positions in preparation for this top setup.\u00a0 Key psychological levels have already been reached and the minute the NQ breaks above 8000, the key Fibonacci target level and the key psychological level (8000) become critical elements for the market top formation.<\/p>\n

Now is the time to plan and prepare for these incredible price swings in the markets.\u00a0 The next 18-24 months are certain to present technical traders with countless opportunities for success with these bigger price moves.<\/p>\n

Our recent calls in the markets have resulted in over 42% in total gains over the past 60 days.\u00a0 Isn\u2019t it time you learned how\u00a0TheTechnicalTraders.com<\/u><\/a><\/strong> can help you find and time better trades?<\/p>\n

BECOME A TECHNICAL TRADER AND PROFIT WITH US<\/a><\/h4>\n

Chris Vermeulen
\nTechnical Traders Ltd.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By TheTechnicalTraders.com With earnings data starting to hit the markets and recent news that China\u2019s economic activity levels shrank to levels not seen in nearly 30 years, we believe our proprietary Fibonacci price modeling system is showing us a target level in the NASDAQ (NQ) that will likely be reached within the next 7 to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-151593","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=151593"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151593\/revisions"}],"predecessor-version":[{"id":151594,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151593\/revisions\/151594"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=151593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=151593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=151593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}