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rudcharts
Jan 5, 2022 10:24 PM

IXIC 1/5/2021 

NASDAQ Composite IndexNASDAQ

Description

Nasdaq with the unexpected retest of the bottom of the price channel. Surprising the moving averages did not catch price and prevented it from falling back down to bottom of channel again. This was a sharp move down and hopefully we start to see small reversal candles at support or buyers come in and have a strong bounce off support. Last line of support.
Its been quite the rollercoaster ride. Staying neutral until either I see reversal signal or breakdown of channel.
Comments
rudcharts
Spinning top candlestick at support. We now need the break of candlestick high. Once we break 15200, I will look for stock with setups to go long
jlayneVA
With a long engulfing bar like that, it may have enough downside momentum to break below the channel. Frightening.
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