bbourji

NASDAQ Ripe for Correction

NASDAQ:NDX   Nasdaq 100 Index
Maybe not before big tech earnings , but this is a September 2020 playbook in the making. Expecting a blow-off top anywhere between 15,000 to 15,500 but will not trade against this monster unless clear signs of reversal are forming on hourly timeframes.

Current price action, RSI's and volume indicators certainly warn of overheating territories yet we can and we still will grind a few notches higher. Infact 15k is likely as soon as today itself.
Comment: Here's what FAANG looks like :)

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What do you think of yesterday’s 15,000 that comes next? thx
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bbourji uhljarrobert
@uhljarrobert, I don't think this is the beginning of the correction by any means. If anything it shows the market is somewhat fragile & sensitive despite intense bull power. I think the market can still melt-up to 15,500 but the haircut post earnings will be 1500-2000pts painful.
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