Recent Articles by Mike Golembesky

Leading Diagonal To Downside

After holding the 61.8 retrace yesterday the Nasdaq 100 Futures (NQ) moved lower in what, like the ES, can count as a leading diagonal to the downside opening the door to this having put in a top for the wave ii/b at the 12,098 level.
by Mike Golembesky - 1 week ago

Big Week Ahead For The US Dollar

After moving higher the previous week, this past week saw the DXY once again break down and now retest the lows that were struck back in the September, putting us in a very key spot moving into this week.
by Mike Golembesky - 3 weeks ago

Nasdaq Paths Point Lower

Both of our projected paths do point lower in the Nasdaq 100 futures as the downside pattern is still looking quite incomplete.
by Mike Golembesky - 3 weeks ago

Potential Truncated Top For Russell 2000?

Ideally, I would still prefer that high to be broken to finish off the wave ((5)) of v of 1 as shown in green on our chart, as this would be the cleanest of patterns.
by Mike Golembesky - 1 month ago

No Signal Of Top -- Just Yet

The Nasdaq 100 is still trading over the micro pivot level that I laid out yesterday, so we do not have any signal of a top in place just yet.
by Mike Golembesky - 1 month ago

Eyeing Lower Levels On Nasdaq Ahead Of Next Break Above ATH's

Both NQ counts suggest that lower levels will be seen before we break back up over the all-time highs.
by Mike Golembesky - 1 month ago

US Dollar Presses Higher And Approaches The Upside Resistance Zone

After consolidating last week, the US Dollar Index (DXY) began the expected path up for what is looking like the wave (c) of ((iv)) shown in the path in white.
by Mike Golembesky - 2 months ago

Looking Lower In Russell 2000

The Russell 2000 (RUT) appears to be topping in wave b and ready to begin wave c of the larger wave 2 down.
by Mike Golembesky - 2 months ago

US Dollar Turns Back Higher After Poking Under Support

The US Dollar Index (DXY) moved higher this week after poking under the 200 extension level last week. We still are not quite out of the woods as far as this potentially still seeing further downside extensions.
by Mike Golembesky - 2 months ago

Topping Action In VXX

After a sharp move up yesterday beyond our 27.17 target area, the VXX saw a retrace of just about 50% of that move into the close.
by Mike Golembesky - 3 months ago

Are We There Yet?

Has the S&P 500 arrived at a top for the larger degree wave 3 that we have been looking for over the past several weeks in this region?
by Mike Golembesky - 3 months ago

Market Still Over Support, But No Breakout Yet

As long as the S&P 500 is holding over support, the near-term pressure does remain up.
by Mike Golembesky - 3 months ago

US Dollar Finally Breaks Down

This week the US Dollar Index (DXY) continued to move lower and has now finally broken under all of the key support levels that I have been noting for several weeks.
by Mike Golembesky - 4 months ago

Market Showing Mixed Signals, But Still Over Support For Now

While the market has yet to fully show its hand here, we are closing in on some fairly key support levels.
by Mike Golembesky - 4 months ago

Near-Term Pressure Still Down In US Dollar

This week the US Dollar Index (DXY) continued to consolidate under key resistance at the 97-69-98.48 zone.
by Mike Golembesky - 5 months ago

Market Trying To Confirm A Top

Today the S&P 500 opened up again moving well into overextended territory.
by Mike Golembesky - 5 months ago

Approaching Local Top - Market Analysis for Jun 4th, 2020

I still think the Nasdaq 100 (NDX) is getting close to at least a local top even if this does grind a bit higher first.
by Mike Golembesky - 5 months ago

Patterns Getting Quite Full

We still do not have an initial signal of a top just yet, but the pattern on the Nasdaq 100, like with the Russell 2000, is getting quite full.
by Mike Golembesky - 6 months ago

Local Top Forming For Nasdaq?

The structure of the NDX move up off the 8562 low now counts better as a 3-wave move rather than a full 5 up.
by Mike Golembesky - 6 months ago

USD Moves Lower - Market Analysis for May 3rd, 2020

Last week I noted that the US Dollar may not be far away from a sharp reversal after grinding higher into the end of the week. This week we saw just that as the US Dollar moved lower.
by Mike Golembesky - 6 months ago

Nasdaq Breaking Out, But ...

The break higher in the Nasdaq 100 should take the shape of an abc up off of yesterday's low and will likely be a very muted move.
by Mike Golembesky - 7 months ago

Eyeing Resolution In Russell 2000

The Russell 2000 Indices (RUT & RTY) are trading down this morning, and I am watching the 1154 level to the downside as a key pivot.
by Mike Golembesky - 7 months ago

US Dollar Starting To See Downside Follow-Through

The US Dollar still has several price levels that need to be taken out before we have further confirmation that it has indeed struck a top.
by Mike Golembesky - 7 months ago

Eyeing Lower Lows in Nasdaq

I am viewing today's action as quite important in telling us how this may look over the course of the next several days ahead.
by Mike Golembesky - 7 months ago

Near-Term Pressure Down In NDX

The Nasdaq 100 (NDX) morning moved lower again and retested the lows that were struck last week but did manage to hold just over those lows.
by Mike Golembesky - 8 months ago