Closed NQ1! and ES1! short
Loading...
Closed NQ1! and ES1! short
Closed NQ1! and ES1! short
I'll cover my ES1! and NQ1! shorts if NQ hits low 21000 area during RTH today. The market is oversold and is currently focused on NVDA's upcoming earnings, which could spark a big after-hours move.
Remember, we shorted ES1! near ATH at 6164.25 and added NQ1! short at 21750 on Sunday night.
NDX has completely reversed its recent breakout, with the index falling back inside the triangle. This confirms our prediction that the breakout would be a fakeout. Now, the trendline acts as resistance.
Open 1/2 NQ1! short at 21750
and we are up 120 handles on our ES1! short from 6164.25
With VIX at just 18, bulls are playing with fire. It's like having a picnic on a bullet train's tracks
I've been waiting to open a short position in Nikkei. But if I don't get a good entry, I will probably hit NQ1!.
Chart 1: NKD1! futures daily chart is tightening, signaling a potential explosive move. Note that the most recent bounce fell short, only reaching the mid-wedge. If this index breaks down in the coming days, it could rock global markets.
Chart 2: RTY1! may be the first among US indices to break down.
Chart 3: NQ1!, I'm expecting this type of move.
Target for the remaining 1/2 ES1! is lower 5850 area as shown in the white box in the chart.
Closed 1/2 ES1! at 6153.75 for 10.25. I'm keeping the remaining 1/2 with stop at 6175.
Open ES1! short at 6164.25
Semis topped out last summer, which is a common phenomenon where the most loved sector or stocks peak months before a bear market begins.
Under the surface, the bubble has started to burst-just look at Tesla, down over 40%, or MSTR, which has never recovered from its big drop.
This is similar to the second half of 2021 when speculative stocks got crushed while the SPX kept grinding higher.
This time, it's more serious, as gold is also flashing warning signs.
NDX broke out to the upside as we expected.
closed the remaining 1/2 at 6050 for 22
ES1!
Closed 1/2 ES1! at 6054 for 26
Open ES1! long at 6028
Since the election spike, the market remained in a choppy tape without any sort of directional commitment. This compressed action created flag formations, the most notable one is this triangle on NDX which I think is a topping formation but it will likely first leave a fakeout to the upside. Triangles are one of the most common formations seen during topping processes.
And 10y notes are heading lower as we expected.
NDX reversed from the flag resistance
filled
ES1!
Open 1/2 ES1! short at 6080.5
filled
ES1!
Open ES1! short at 6028
Filled
NQ1!
Meridian is a financial research, information, and publishing service. Meridian is not registered or licensed as an investment adviser, broker or dealer, commodity trading adviser, portfolio manager, exchange, trading venue, or custodian. The Service does not execute trades for you, accept or transmit your orders, hold or safeguard your assets, exercise discretion over your portfolio, connect to or control your brokerage, exchange, wallet, or other financial account, operate a trading venue, or automatically place, mirror, or copy trades. Any position, transaction, order, allocation, portfolio, or Performance shown or described through the Service is hypothetical, simulated, or model-based Financial Content. It does not represent, and need not correspond to, trading, holdings, or results in any actual account. Any price, rate, yield, spread, level, valuation, size, timestamp, target, stop, entry, exit, or other value displayed, recorded, calculated, or referenced in Financial Content may be indicative, modeled, estimated, historical, delayed, composite, closing, settlement, evaluated, or derived. It is not a firm bid, offer, or quote as to price or size and is not evidence that any transaction was executed. All such Performance is hypothetical, simulated, or model-based. It does not represent trading in a funded account, the performance of an actual customer or Meridian account, an audited record, or results achieved by any user. Hypothetical, simulated, backtested, and model-based results have inherent limitations and do not represent or guarantee future results. Any compounded, cumulative, indexed, or otherwise aggregated Performance is a mathematical calculation based on Meridian’s methodology and assumptions. It does not represent portfolio performance and may not reflect position sizing, capital allocation, notional exposure, instrument multipliers, overlapping positions, cash flows, leverage, or capital constraints. Meridian Parties may directly or indirectly hold, acquire, dispose of, or otherwise transact in an issuer, asset, instrument, or related instrument discussed in Financial Content. A Meridian Party’s trading or position need not align with any Financial Content or another Meridian Party’s position or view. Financial Content is general and impersonal information for an audience. It is not individualized investment advice. See Financial Content and Related Risks in the Terms.