The NDX did something it should NOT have done in 7/27 trading !
After breaking out above resistance of a rising wedge pattern to the upside, earlier in the week,
in what is now a FALSE BREAK OUT THROW OVER BULL TRAP !
NDX fell sharply back below the prior resistance deemed support,
and then sharply broke THROUGH the other side to the DOWNSIDE !
IT SHOULD NOT HAVE DONE THAT !!!
A TERMINAL break to the DOWNSIDE now could happen at any moment in NDX !
Most will not see it coming. But you have been fair warned.
I will have much more on this in the days and weeks ahead.
Use any sharp snap back rallies, if you get any in NDX to add to SHORT POSITIONS. And HOLD......
THE_UNWIND
After breaking out above resistance of a rising wedge pattern to the upside, earlier in the week,
in what is now a FALSE BREAK OUT THROW OVER BULL TRAP !
NDX fell sharply back below the prior resistance deemed support,
and then sharply broke THROUGH the other side to the DOWNSIDE !
IT SHOULD NOT HAVE DONE THAT !!!
A TERMINAL break to the DOWNSIDE now could happen at any moment in NDX !
Most will not see it coming. But you have been fair warned.
I will have much more on this in the days and weeks ahead.
Use any sharp snap back rallies, if you get any in NDX to add to SHORT POSITIONS. And HOLD......
THE_UNWIND