Futures Markets Lower Lows and Divergence
Levels presented below are for higher timeframes and vary within intraday time frames as different areas present themselves due to the fractal nature. We will touch those briefly in the video.
The NASDAQ-100 is making a lower low in the short term perspective and a potential higher low on a larger scale, but we need more time and price to see how this plays out. Our levels on the Daily Chart are in this order of resistance 13,949.25 – 14,000 and then 14,325 – 14,487.50. Ideally we’d like to see the price get back above the 14,325, which breaks the recent consolidation high. Our most recent demand zone is between 12962.25 to 13007.00, but that doesn’t mean that price needs to retest these areas.
SP500 Futures we are watching the 4,364.50 area holds or if price action will attempt to break towards the 4,321. Thus far, the index has retraced ~ 50% of its run and is trying to potentially set up a higher low (just as the NASDAQ-100).
Bitcoin Futures (BTC) remain under our 42,720 and hovering around 39,605 for a majority of 2022. Our expectation is for Bitcoin to break below the 36,785 – 37,480 range and reach out target area between 31680 and 32930.