AndyM
Short

Nasdaq is reaching a very important juncture.Watch MACD readings

FX:NAS100   NASDAQ 100 index of US listed shares
While SPX             is confusing and seems bullish , Nasdaq is the one that suggests the true direction of the trend. Watch for MACD zero bounce this week - the oscillator is ripe for reversal. One thing I noticed about indices is since most of upward trading is algo-driven the corrective ramps that we see so often in SPX             or Nasdaq are totally insensitive to fib levels, but they are very sensitive to oscillators, specifically to MACD . And MACD is approaching zero very fast.

Also note that we are currently within the 0.618 - 0.786 time band of the correction, relative to the impulse. So by that measure the correction is about to finish this week as well.

If the reversal happens this week, then I think the doors to hell will get wide open.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out