Nasdaq (NQ), Oil (CL), Daily forecast. September 4 JOLTS Report

good morning now today is Wednesday September  4th and we're about 30 minutes to open Bell in   an hour away from the JOLTS job report so as  always I like to start my day looking at the   dollar and seeing what's happening here because a  lot of things are affected by what the dollar is doing so right now it looks like we possibly  may have hit a turn on a higher time frame which   measures me a which measures turning points on a  monthly chart if so after making a higher high,   higher low I'm looking to see if we will  also come in at a higher low again but   we're still in the kill zone so we were to  need to look at a lower time frame and see   what's actually happening here. underneath the  128 time frame is a 32-minute time frame which   is divided into quarters or fourths of the  above time frame and you'll start noticing   that all these cycles and the Cycles  themselves are all cut into fourths.   So looking at the 32 minute we see that we  in fact did make a higher high higher low   structure which is kind of this break of Market  structure is sort of characteristics of higher   time frame turning points which is price  inside of this Arc we call the Kill Zone.   You should expect extreme volatility in these  times where Market structures seems to break down. Right now below 32 as a clue looks  like we did hit a turning point around 50%   time and looks like we are dropping now  if we break below this turning point two   area here price were to break down below  here then I would expect this to have been   a turn and we should be dropping for the  rest of the day and holding this high of 101. 38 and this would be the clue that this Wick  probably came up only to fill this little fair   value Gap and will be dropping down. So knowing  that we will take a look at the markets that   we actually do trade. Starting again with the  NASDAQ we see on the high highest time frames   we are dropping off a lower high Turning Point  9 which is below seven here nine is below seven   and we made a lower low already with this price  action so looking at time frames above a month   we are in a downtrend and I think we may be in a  downtrend in even higher time frames I can share   a weekly chart later to kind of show you what I  mean however we do have to understand that market   structure does give a big clue onto what's  happening especially day-to-day charts after   dropping of one of the biggest drops I've seen in  a while from Asia's High uh Asia's close yesterday   we came down four and a 4.3% even but we did look  like we got a rebound around 18.8 for the NASDAQ   hitting our turning point for Target here and as  we're turning upward we know that turning point5   does come in the middle of our cycle so I'm  looking to see what the lower time frames are   telling me to try to get a clue on what's going to  happen because as I mentioned we do have a large   job report at 10:00 as well as some news around  9:45 but that's Canada's um new interest rates   so looking at that time at about between 9:52 to  10:30 we actually have a Target to the upside now   even though we did discuss earlier that all the  higher time frames are screaming down we have to   be aware that patience does pay off is a virtue  that does actually pay because you do not want   to be in the market too early to put too much  heat on any um short entries because there's a   lot of liquidity to take out for anyone who has  been you know shorting the market over the last day so looking at that we could we  could close and get above this second   Arc remember here's the Kill Zone  actually let me scale this a little better yeah once we actually close this  next 32-minute candle in 12 minutes we're   looking to see how we react and get  above this first Arc and then looking   at Targets maybe around this second  Arc here either the first or second   around $19,037 and $19,013 somewhere  in between this range I'll mark out here we do have a possibility of putting in  an early turning point5 here this target was   marking downside in case we do actually drop  down I could see that as well but as of now   on Lower time frames we're making higher lows  and higher highs with three being with Target   point four being above three and then after we  came up we have already Passover three so this   tells me that the 8 Minute time frame which is  this one we have actually turned up and because   we know turning point five usually happens in  this area this target here for time or even   when London closes is all within the proper  Market spacing and turning point spacing for   where we're looking for a high Target so as I  said I do see Confluence for a turn around 19   ,000 and maybe upper end 19,035 bucks which  would correspond with this upper Target here   on the above time frame at $1 9,037 so if  anything that's where I'm looking for um the   again the smart plays always trade in Trend  if you look over here on the OverWatch on   the right side of my screen upper right side  you can tell that we are in down transitions   on a lot of above time frames and downtrends but  we are currently going up so again I would be a   little patient before holding any type of intraday  swing trade or a longer or a longer day trade   but if you are looking to long because you have  another schedule to kind of get to I would just be   scalping and that's probably what I would be doing  in the meantime just just seeing money and taking money right now on the 302 time  frame is kind of where I get a   clue on what's bubbling underneath  we are currently in a retrace right   now sitting above the. 236 we could  drop below this current level down to 18,878 maybe the next 9 minutes or so to 3   minutes and then begin our move  back upwards heading into the open Bell yeah but I think the smart trade will be to  wait till after the JOLTS job report at 10 o'clock   and then short this Market let's see moving go to  crude oil we kind of see a similar story our time   frames look like they are still screaming down  I put turning point 8 in here here but it's not   necessarily having he not necessarily completely  set because we have not confirmed a Kill Zone we   haven't made a higher high on the lower time frame  I doubt we would because of how high you know how   high we' have to actually travel we'd have to  go up 7% so that won't be the clue here so we'll   have to rely on some of these time targets like  possibly in 16 hours hours or six hours towards   the end of the day we may actually be able to get  a little high above this Wick to put in turning point 5 if it's not already in we at the lower  time frame we need a turning point 3 here because   turning point 3 typically happens in the last half  of the first quadrant and the front half of the   second quadrant now definitely go into more detail  about cycles and the appropriate turning points   another in another video you see we came up passed  through these arcs confirmed the Kill Zone made a   higher high above turn point1 and right where it  says 21 that's a cube root calculation for time   of a turn and we did hit that and then we passed  down and caught a little engulfing candle around   13 bars but only a lower time frame can confirm  if we already headed up I have two Targets on the   2 minute which is again a fourth of the 8 minute  I'm looking to see if we did turn at this first   Target in 25 minutes ago if so that may start  building the higher low higher high structure   we need to actually long back into this if if we  are to believe that the 32 minute is not in yet so   I'm going to go ahead and look at the lower time  frame on the 30 second came down hit this area   right here which is in between 32 bars at 50%  time I'm going to mark that as Turning Point 6   came up hit 25 bars here and this is the beauty of  the system because it really helps you understand   where these pivot Points and turns are happening  so you don't have to guess which is the higher low   which is the higher high that you should actually  be looking for um that actually controls the price   action so we hit 7 here and looks like we're  dropping down to 8 for this uptrend to actually   survive anything we will have to come up and  again close and move above turning point7 here   so I'm not going to jump into any trades yet  because if we are still going up I'm not going   to I'm not going to take what looks like a cheap  long here until I see some more confirmation   because if we are going down which we could be  if we break below turning point 2 that would   tell me that turning point 5 is in and we are  continuing down just show this we really could   still be going down for maybe another day into  the 5th of September that's where the next Target is so as far as oil goes it's currently a no man's  land for trading in my opinion until we see a   higher low on this chart here if the 30 second  makes a higher low I'll look at opening some scalps and riding this up but again so being so  close to the open Bell I still think it's smart   just to wait because oh looks like we're breaking  down a little bit the oscillator starting to   turn at the top of the screen again if turning  point six breaks here that means turning point 4 is not going to hold itself and we could  continue to drop a little lower before we go up that means the higher time frame  trends of the day and the weak are   still going down so shorts are where the  smart money is and right now we saw four   minutes before we can kind of confirm  the NASDAQ Direction at this time but   looks like we are trying to bottom out here  close that .236 retrace from the morning low   and if so I'm thinking we can go up yep go up for  about another 39 minutes to 39 bars which is 13   plus 26 here which I'm starting to see a lot of  Confluence for targets again all this changes if   we break below 18,855 but as of right now I like  the higher highs we've made on all the lower time   frames but I'm not going to be holding any longer  term trades on the long side right now for the NASDAQ and closing just want to let you  know no matter what it is that you're   currently facing in your life for those who  wish to be liberated from all afflictions   should really contemplate on contentment  the way of contentment is where Fortune   happiness and peace reside so moving  into the markets try to keep that in a   meditative heart stay humble stay patient  and let the profits come to you cheers