Nasdaq 100 , which overnight on 9/18 was on the edge,..
seriously in the edge, of breaking major support support at 7400.
Chart pattern looked extremely bearish.
However strong handed bulls, and sometimes it much harder to be a bull than a bear
reversed at support overnight, and then powered back thru 7500, a bullish breakout
on very strong buying right from the Open of the NYSE.
In the process, it has created what looks to be a Bear Trap,
of 70 points of quick decline between NDX 7500-7430.
That price area will now offer renewed STRONG SUPPORT.
NDX is INFAMOUS in reversing declines with strict V Bottom formation,
within a matter of a trading day or two.
Today has been no different.
Chalk another one up for the bulls,
who saw the drop in price on 9/17 as a strong buying opportunity,
Once again, they were correct.
THE_UNWIND
seriously in the edge, of breaking major support support at 7400.
Chart pattern looked extremely bearish.
However strong handed bulls, and sometimes it much harder to be a bull than a bear
reversed at support overnight, and then powered back thru 7500, a bullish breakout
on very strong buying right from the Open of the NYSE.
In the process, it has created what looks to be a Bear Trap,
of 70 points of quick decline between NDX 7500-7430.
That price area will now offer renewed STRONG SUPPORT.
NDX is INFAMOUS in reversing declines with strict V Bottom formation,
within a matter of a trading day or two.
Today has been no different.
Chalk another one up for the bulls,
who saw the drop in price on 9/17 as a strong buying opportunity,
Once again, they were correct.
THE_UNWIND