Hello:
As I was analyzing the NQ movements, I still believe that NQ is in a 5-bearish-waves. Because of that, I believe further downside would come later on. When looking at the orange blocks, I am noticing a 5-bearish-waves as well. However, I think there is still some upside for NQ tonight. Politically speaking, you have the House voting for the $2 trillion bill tonight(buy the rumor, sell the news.) That's what the chart presents as well: a possible pullback to 7735.25, or the .5 Fibo retracement level. Overall, I am really bearish on NQ, but expect some pullback, in which you can grab more shorts before the bleeding. Long term goal would be around $6519.
GL to Y'all
As I was analyzing the NQ movements, I still believe that NQ is in a 5-bearish-waves. Because of that, I believe further downside would come later on. When looking at the orange blocks, I am noticing a 5-bearish-waves as well. However, I think there is still some upside for NQ tonight. Politically speaking, you have the House voting for the $2 trillion bill tonight(buy the rumor, sell the news.) That's what the chart presents as well: a possible pullback to 7735.25, or the .5 Fibo retracement level. Overall, I am really bearish on NQ, but expect some pullback, in which you can grab more shorts before the bleeding. Long term goal would be around $6519.
GL to Y'all
Comment:
Gosh, I forgot to mention the decreasing volume. Oh well, it's pretty much bearish for sure lol