botje11

Nasdaq in the making of a double top pattern

NASDAQ:NDX   Nasdaq 100 Index
Nasdaq seems to be in the making of a double top pattern. But it is very important that the bear flag on the right plays out. Otherwise, the double bottom pattern gets too big if the neckline does not break within a day or 2. We had quite rally already the past weeks, so we should see a correction happen soon or a continuation of the bear trend.

If the double top is a real one, we should see a acceleration down if the 6600ish breaks.
Comment: Started to look very good yesterday, up until closing and after hours earnings which caused the price to squeeze up. It's already in danger now, the bearish scenario, above that red zone, anything can happen again with upwards movement being more likely. Whatever happens, for the double top to be alive, we should see a drop towards the 6600 (neckline) again today. Otherwise the pattern gets invalid

Comments

Im starting to accumulate a short position via the proshares etf .
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MaAndre0805 MaAndre0805
I think we will see a continuation of the downtrend soon and some news will br the trigger. A lot of people shorted the lows recently and got rekt , soon is time to continue lower.
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and APPLE could be the trigger..
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botje11 breitdom
@breitdom, Could be yes
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