Let’s continue from where we stopped. Yesterday we discussed about how delicate the moment for NDX was, since it just reached its and did a natural pullback to the neckline of this pattern. At that moment, NDX was between the bulls and the bears, but the bulls won this round.
By the way, don’t you find awesome? Today’s closed with astonishing precision at our black line at 10,156, which is there since my first NDX analysis, on June 22! (link below)
I think we talked about everything from this perspective, so, how about the daily chart?
Ok, NDX reached its supports at the purple and black line (9737), and now it is going up. Only if NDX closes under this the bull trend will start to get weaker. Meanwhile, it is a bull trend – ascending tops and bottoms, above and 21 , which is pointing upwards.
Maybe, the strength of the trend on the will bust the Head and Shoulders we saw in the hourly chart, but it is a little early to say this for sure. Only time will tell.
Recent public trades (links below):
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I totally agree with you here!
happy trading buddy
sorry bro , i was on the spx chart , as for nas , it also has a inverse head and shoulders , i will draw it for you