• Home
  • /
  • NASDAQ 100 / Elliott Wave Update 3/16/2022 by Michael Filighera

NASDAQ 100 / Elliott Wave Update 3/16/2022 by Michael Filighera

Tonight’s update is longer due to additional analysis regarding the alternate views and also “mindsets” and trading.  Wednesday’s trade was not necessarily surprising but incredible to see even after the FED announcement.  In essence nothing has changed – inflation remains strong and on the upswing, the interest rate hike I’m afraid is unlikely to slow inflation or stop the money printing machines – The situation in the Ukraine is not getting better  – in fact the news today was extremely disturbing on a humanitarian level – the markets have gone from extremely oversold to extremely overbought in 2 trading sessions. – an astounding feat that will go unnoticed because rallies are “a positive action”, whereas selling or declines are ” a negative action” – and that I feel is such a misnomer that it has instilled the fear of “missing out” again.  The NQ rallied strongly into the FED announcement and did briefly decline over 100 points before the buying frenzy hit again and drove the NQ 250 points higher in an hour.  BTW – It was an awesome trading day!  While tonight’s update is longer than usual – I give details on the alternate views and the change in labeling after today — I also go into detail on having the correct “mindset” and trading what is in front of you.  I discuss that we all need to have the ability to change as quickly as the market and not to get stuck with a position or an opinion.  The market doesn’t care and you will get left behind and likely blow out your account.


Tags


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

What is your biggest Trade Killer?

Use the Trader Test to find out:

Commodity Futures Trading Commission: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

Content on this site is for educational and entertainment purposes only. Nothing on this site should be viewed as trading advice.