For a Clear View On Risk, Check Out the NQ E-mini
As always, whenever there is a market correction, and for whatever reason, the bears take heart, emerging from the undergrowth to call the top of the market once more!
NQ
Picture perfect on the Emini NQ chart
There are so many trading maxims it’s often hard to ignore them, but there are two that spring to mind considering the daily chart for the Emini NQ this morning.
A day of indecision as the markets pause!
Price action on the major US indices yesterday could best be described in one word, indecision, with all of the Emini futures closing with a doji candle of one variant or another.
Time to dust off the worry beads! – VIX
Whilst everyone’s attention on Friday was focused on the monthly circus which is the NFP, the VIX on the other hand slipped quietly and almost unnoticed below the 11.00 price point on the daily chart, to close the week at 10.73, its lowest level for many years.
Traders and investors continue to climb the wall of worry
As equity markets continue to ‘climb the wall of worry’ and with so many market commentators predicting the imminent collapse of the current bull run, this may be a good time to take a more dispassionate view based on the two leading technical indicators traders and investors have, namely volume and price.
NQ (NASDAQ) index leads the way …. again!
One of the best barometer’s of market sentiment is the NQ (e-mini future for the NASDAQ), and whilst many analysts were forecasting market meltdown the NQ was quietly reversing and clearly signalling a short term reversal. The bears, once again, have been sent smartly back to their caves!
The growling bears retreat into the woods!
Looks like the markets just about managed to avoid a mauling by the bears, who have now temporarily retreated to lick their wounds!
An historic week for the FED, but what of the markets?
The first FOMC meeting this week is an historic one for many reasons. First it is the last time Ben Bernanke will chair the meeting. Second, for the first time in the FED’s history the Chair will be held by a woman, and third with several new members the voting pattern will be scrutinised very closely by the markets.