Its one of the index I usually look very closely.
After the strong drop on 6000 I think it has gone bearish now. But the bullishnes for the last two days have created doubts for me.
I still think its bearish because of two reasons:
1) 6000 was an all time high and it needs a good correction to go up. In my opinion a good correction is 0.78 fib mark which is not achieved yet.
2) The bullishness for the last two days is too strong and it will and must end soon :)
Thursday will be a very interesting day for NDX I think. If bullishness persists then we will see 6000 again and may be higher.
If I am right and its just anomaly then we will be seeing a strong pullback and we may see a new low which will be much lower than 5800.
Look out for this instrument.
All feedbacks are welcome.
Like and follow if you agree :)
Trade safe :)
After the strong drop on 6000 I think it has gone bearish now. But the bullishnes for the last two days have created doubts for me.
I still think its bearish because of two reasons:
1) 6000 was an all time high and it needs a good correction to go up. In my opinion a good correction is 0.78 fib mark which is not achieved yet.
2) The bullishness for the last two days is too strong and it will and must end soon :)
Thursday will be a very interesting day for NDX I think. If bullishness persists then we will see 6000 again and may be higher.
If I am right and its just anomaly then we will be seeing a strong pullback and we may see a new low which will be much lower than 5800.
Look out for this instrument.
All feedbacks are welcome.
Like and follow if you agree :)
Trade safe :)
Order cancelled:
This analysis is no more valid due to the price action on friday.
Please refer to the new chart on NASDAQ.
Please refer to the new chart on NASDAQ.