Ok, let’s see what’s happening here. We have a chart pattern called Head & Shoulders, which was officially triggered, and it did a natural throwback to the neckline, as it’s typical of H&S (68% throwback rate).
The trick is that NDX just hit its purple trendline. I don’t see ascending tops and bottoms here, but if we look at the , things seem pretty bullish:
A Harami pattern, above the and above the 21 (and it quickly hit the black line at 9737 as well). The trend is , yes, and the real question is for how long the stock market will have strength to climb up. As I said on my SPX analysis, there are some good opportunities around, yes, and I discussed about them with my group.
But the market is passing through a quite hard moment - maybe because it is closer and closer to its decisive point. Only if NDX loses its we will see a sharper pullback (which is something I desire, but I always work with what I got).
Probably we are going to have our answer this week: Is NDX going to be BULL or BEAR?
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