Nasdaq today
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Derek Frazier shares and explains his ideas and process of decision making behind cyclitecnical trading. Please like and comment.
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Its pretty apparent liquidity was left on the bid here at 935 cst, resulting in a place to do business long or buying, in the future, should price pass back through up on some sort of fake out.
Right now it looks as if it is waiting for something.
But its a buy condition based on the probable 20 day cycle
bottoming around here.
Anything can happen. When the trading gets very two sided like this.
I think the rest it is taking will enable buying later today.
If it goes through the pre market low on volume, quickly in some sort of failure, its best to take pullback shorts
Nasdaq today
1443 cst making money was possible today, if:
- the trader seen 830 as the low of the day, early, due to the average 20 day cycle wavelength
- the premarket low held
- the first hour looked like buying
- he seen that the bid would hold multiple times
so, the trader decided to go long today
and early as possible.
And the internals combined with slightly bullish 20 day cycle activity on stocks, forced the longs to be taken.
And upon further analysis, the 40 day cycle support was there helping the bull trade, as well.
This could be the start of a big rally.
1308 cst general rally starting from long time frame buyers again, 3 hr cycle confirmed, stop below recent structure acceptable