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Looks like there is something big happening with Nasdaq.
The amount of bearish volume present in the candle which did a re-test of the previous ALL-TIME HIGH region as support, is quite high and not seen in a long time.
For further confirmation, looking at the 5 min. chart for NDAQ, the bearish volume, and price expansion do dominate that of the bullish volume and price expansion (See the chart below).
NDAQ may move higher from here, but I think Smart Money could be making its short positions for the time to come.
A break of 120 with volume would be quite bearish and could push entire global markets down with it.
Keep an eye on other indices for such big short positions.
Trade Safe.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“We want to perceive ourselves as winners, but successful traders are always focusing on their losses.” - Peter Borish
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
Looks like there is something big happening with Nasdaq.
The amount of bearish volume present in the candle which did a re-test of the previous ALL-TIME HIGH region as support, is quite high and not seen in a long time.
For further confirmation, looking at the 5 min. chart for NDAQ, the bearish volume, and price expansion do dominate that of the bullish volume and price expansion (See the chart below).
NDAQ may move higher from here, but I think Smart Money could be making its short positions for the time to come.
A break of 120 with volume would be quite bearish and could push entire global markets down with it.
Keep an eye on other indices for such big short positions.
Trade Safe.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“We want to perceive ourselves as winners, but successful traders are always focusing on their losses.” - Peter Borish