teckno05

Pullback increasingly likely 1/14 $ndx $qqq $ixic $nas100

Short
teckno05 Updated   
CME_MINI:ES1!   S&P 500 E-mini Futures
NAS100USD
1 hour, 2 hour, 4 hour charts shown, 3 different indexes to confirm overall decreasing volume. I put $ES1! there as a "control" comparison

-Decreasing volume ever since hitting this price point (red rectangle zone)
-At resistance
-Still overextended
-Losing momentum

1. Extremely likely we pullback Monday/Tuesday, Short term target ~$6400
2. Other possible scenario is we chop around to reset indicators for a day or 2
3. Very unlikely we close at new highs before making at least a 3% pullback.
Comment:
Looks like I was wrong and the pullback wasn't in the 6.6K area, but reassessing the charts, I see the 0.5 fib retracement from the top to the bottom right hre at 6.7k, and I also see the volume continuing to be faint

I'll maintain my position that this is a suckers rally and a bulltrap. WE've been respecting 0.5 fib retracements almost every drop so far, I have no reason not to believe we wont again this time. I also expect NFLX earnings to be poor which will drive the market down
Trade closed: stop reached:
This play was a solid and clear loss for the bear side. This is why we have risk management lol. I thought people would be more bearish and cautious after how hard we went down, but it should've been obvious that we would test the 200 daily moving average like all the other bear markets before. I'm short again from 7010 Nasdaq and holding till the next big leg down or new highs.

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