Between BULLS and BEARS! Where is the decisive point?

NASDAQ:NDX   Nasdaq 100 Index
Hello traders and investors! How are you today? So, we have some interesting stuff going on here, right? First, if you are new around here, I invite you to follow me, because every day, after the market closes, I do some studies here. And check my social media as well, because there are some good content over there too – link below.

Ok, let’s see what’s happening here. We have a bearish 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 daily chart , things seem pretty bullish:

A Harami candlestick pattern, above the trendline and above the 21 ema (and it quickly hit the black line at 9737 as well). The trend is bullish , 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 trendline 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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Its clear that NDX is running out of gas slowly, just by taking Fib measures ( both ret & extns ) things are getting tighter, this looks like a classical W shape economy recovery

would love if you focus on NDX for few days, i think it will be a great learning opportunity
+1 Reply
Nathan_Black Waves_of_life
@Waves_of_life, Thank you Waves of Life! I'm glad you enjoy my analyses!

Yes, I'll analyze the major idexes closely from now.

Best regards.
Great work
+1 Reply
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