[nqrack] what i'm looking at this week, 2025.04.21

The Numbers

They already lost key levels of support overnight, and on their way to start the week down. They’ll need to defend 18150.75 to have a fighting chance to recover to the upside. There’s 18227.25, via 18213.0 then 18318.25 to recover before having a chance to even be weakly bullish on the week.

Below we have 18071.75 opening the door for 18035.75, and losing this opens the door for a potential stronger bounce level at 17955.25, depending on how they make it…then, 17662.25

The Big Picture

She’s in a downtrend, clear as day. Currently playing some balances to the downside, as she’s been doing since the end of last week. Slowly falling down the stairs like Aunt Bunny (if you get this then you are a real one).

I labeled this area as a key area to keep, but she already lost overnight so I removed it. On the face of it, they don’t seem interested in doing business above, unless someone’s able to goose this tape this morning.

Zooming out, I have two balance areas shown below. The our upper balance (to the right if you can see it), which I mentioned last week looked to be a “bear pennant”, seems to be continuing that direction to the downside, and we’ll lose our Great Time To Buy pump here certainly by end of week, at least temporarily, if they choose not to hunt below. On the face of it, they want the red area below. It’s part of the larger balance, and we seem happy trading in this range for the time being. and by this range I mean the smaller balance to the right, but I really mean the larger balance with more numbers below ;-)

In short—i’m treating this as a potential flat to red week, until they can show otherwise. With our news cycle, you never know, and my 401k would love to be wrong.

As of this writing, QQQ is trying to recover 2024POC, but they are still hanging out around the area, threatening to take it out during the cash session. Today’s QQQ close might give us a decent idea of where she’s headed.

Not much else to it; or perhaps its because I’m still waking up from the busy weekend:)

News

Not much this week, enough to keep us sideways, or just continue to do business down the balance. But you know it’s been fun times so expect anything.

My TradingView chart for the week, updated daily (and sometimes. intradaily)

https://www.tradingview.com/chart/jgJOjvbC/

And if you’re still there, feel free to follow the Twitter, where I blather about numbers when they seem interesting, as I have time:

And oh look, I’ve set up a channel:

https://www.youtube.com/channel/UCzRMtlCacltRNd3Y9XP-BUg

Not much there, but I’ll upload charting when I get the feeling to do so. 🙂 

Here’s to patience, confidence, learning, and profits! 🫡