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And there it is, as expected!
NASDAQ ($NQ $QQQ $NDX) broke out of its neutral zone last week then, as expected took a few days to cool off, and suck in, yet again, more bears!
A quick reminder that we will be raising the price of the Trading Lab on September 1st (next Wednesday!) to $397. If you want to lock in your $297 price FOREVER, get signed up now before Wednesday.
The all important neutral zone from late July to late August was the real hero in this journey for us.
You might recall a few weeks ago when I laid out the blueprint to finding a major market top
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The final requirement I have to a major market top is that price closes above the monthly R3 Pivot (3rd Standard Deviation), which is at the 15,330 level.
LTDR; I don't see a major market top happening this month unless we get above 15,500 on NQ (more like 16k) in back to back up days.
I fully expect to see 15,330 (likely 15,500 or higher) before the end of the month (this coming Friday) which is only about 400 points higher.
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Well here we are at 15,600 AND above that R3 Pivot.
Here's my three requirements for a Major Market Top, and I consider a major market top to be a 8% or greater selloff from the highs, not 20%, 60% or any other random number.
1st - SQN indicator (the bottom histogram) is blue or otherwise known as Bull Volatile
2nd - Price close ABOVE the monthly R3 Pivot
3rd - Parabolic price rise
Today we have met 2/3 of those conditions.
Since we started this "campaign" Long Nasdaq, we've bought 7 times, with a fantastic opportunity while in the Neutral Zone between late July/late August to add 5 times on top of our earlier entries, we are well in the money on this trade!
Now we need to start consider the major market top scenario.
Our measured move from the spring selloff has us at 15,593 on $NQ, so we met that as well.
The only thing left giving us confidence in a continued move higher is the price action and SQN in Bull Quiet.
Coincidentally price action is the most important factor, every indicator is just an extrapolation of price action.
Price is truth!
Month end brings a lot of change, and September is historically a goofy month, but until price action and SQN show me Bull Volatile, I'm staying long.
The last measured move we have on is from this recent August test of the bottom of the neutral zone and puts $NQ price targets at 16,174!
A lot depends on what happens on the last day of the month, tomorrow, for that R3 pivot. We could easily run from here and get that quantified blow off top. But if we pull another July/August neutral zone chill mode, we can drag this trade on for a lot longer than most people expect.
And eeeeeeveryone is remembering September 2020 right now, apparently, sooo we could really punish a lot of people if we keep ripping!
Will I be adding to my position or taking profits? That's something I'll be monitoring on a day to day basis in the Trading Lab. If I do, it'll be the December contract.
So I have an artificial stop loss in place, as the September contract expires the third week of September, if that happens and I make no more entries
This is the 3rd major campaign we've MURDERED (in a good way) in the Trading Lab, outside of crypto, this is where our big money is made, over and over and over again!
What's in the Trading Lab?
Monthly Macro ETF Strategy - you'll get an email before the first trading day of the month of any buys or sells of US Macro ETFs, it literally takes 5 minutes to run this strategy each month.
Short Squeeze and End of Month Equity Strategy - you'll get an email with entry price/stop loss price/profit target for a stock that is potentially about to run 20%, 30% even 100+% in a given day, think $GME or $AMC. On top of that, we've built a strategy that buys an Index at the end of each month which the past 12 months has had a 90+% win rate! And to juice even more profit out of the strategy, follow along in the Slack Channel to see when we exit it for the most profits!
Forex Swing Strategy - If you are a swing trader Forex markets offer a great opportunity to swing trade just 15 minutes per day, with clear entry and exit parameters. This is a mean reversion killer, that is like earning a monthly salary! Every evening that there is a trade on, you'll get an email alert letting you know the parameters.
Futures Swing Strategy - If you've been following along the $NQ trade the past year and a half with me, then you see how powerful this strategy is. By far this is the most profitable strategy we run, taking advantage of multiple market edges, catching the biggest market moves and stepping out of the way when trouble ensues. We keep you updated not just in our free newsletters, but as a member of the Lab you get the day to day access to see how we are actually crushing this market, with emails clearly describing the entries, adds, stops and when to step away.
Crypto Swing Strategy - Since September 2020 our swing strategy is up over 1100%, while our core holdings suffered a bit of a drawdown in the May 2021 selloff, our swing strategy exited all positions and went to cash. You can choose how risky and aggressive you want to be, in between the big moves. The number one feature isn't the weekly alt coin swing trades that average 10% per week, but rather when the top is in, and when it's time to sell all crypto and walk away! Emails will be sent out as the market evolves.
Day Trading Live Stream - And this is what todays email showcased, how we day trade the futures and currency markets. This is broadcast live on Zoom where you can ask questions directly to me, share insights with other traders and take your trading game up a few levels quickly.
Finally the Slack group is 24/7, with traders all around the world always accessible to bounce ideas off of, ask questions to, and well, trading is a lonely business so it's incredible to have a crew to collaborate with.
We will be increasing the price of the Trading Lab September 1st to $397, but you can lock in $297 FOREVER by signing up before September.
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