• Home
  • /
  • NASDAQ 100 / Elliott Wave Update 3/24/2022 by Michael Filighera

NASDAQ 100 / Elliott Wave Update 3/24/2022 by Michael Filighera

Thursday’s trade was another explosive rally with the NQ breaking above 14700 and about half way up to next Fibonacci resistance at 14845.  I’ve again updated the chart labeling which consists of moving the completion points for wave 3 and 4 of the minute “c” wave.  Expectations have not changed with regard to what comes next.  The higher the markets go creates a steeper cliff from which to fall.  While trading with the market is still the correct move so please don’t attempt to pick a top and go short – it may be a recipe for a disaster to you PnL.  Friday is a weekly expiration and again I’m seeing options players continue to push towards higher strike prices in a continuation of liquidating positions that were carried forward from last weeks monthly expiration.  In any case strong moves in either direction will bring about adjustments that could increase the volatility.  Trade smart – trade with the market and not against it.

 


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.