NAS is sitting around its ATH and 15k PSYCHOLOGICAL LEVEL so we will be looking for sell setups on lower timeframes. on H1:
NASDAQ! is forming a symmetrical triangle in but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection WITH ARROWS) ..Trigger => Waiting for that swing to form then sell after a momentum candle close below LOWER TL
Until the sell is activated, NASDAQQ would be overall bullish and can still trade higher.
Within last couple of months NQ1! has experienced one of its strongest bull runs in a history. At the moment Stochastics and MACD are bearish . In addition to that divergence between price and RSI is observable. ADX contains low value which suggests weakening trend. INDECISION on next move in NQ1! , although, investors should be aware of current developements in the market.
I cannot see any new intermediate highs so far, which presents a corrective character of a triangle. I assume that the triangle is the wave (4 OR ELLIOT WAVE ABCDE COUNT ).
As long as we are within the triangle, the upward movement is intact and I expect prices in the 15600 area in the next step. Should we leave the triangle below and go below 14789, we will see larger sell off (also coming below 14445!). So that the upward movement remains intact, the 14708 mark should not be undercut. I´m still in good spirit that the upward movement will continue. I assume that we will hit the lower edge of the triangle again before reaching new all-time highs.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
NASDAQ! is forming a symmetrical triangle in but the lower trendline is not valid yet, so we will be waiting for a third swing to form around it. (projection WITH ARROWS) ..Trigger => Waiting for that swing to form then sell after a momentum candle close below LOWER TL
Until the sell is activated, NASDAQQ would be overall bullish and can still trade higher.
Within last couple of months NQ1! has experienced one of its strongest bull runs in a history. At the moment Stochastics and MACD are bearish . In addition to that divergence between price and RSI is observable. ADX contains low value which suggests weakening trend. INDECISION on next move in NQ1! , although, investors should be aware of current developements in the market.
I cannot see any new intermediate highs so far, which presents a corrective character of a triangle. I assume that the triangle is the wave (4 OR ELLIOT WAVE ABCDE COUNT ).
As long as we are within the triangle, the upward movement is intact and I expect prices in the 15600 area in the next step. Should we leave the triangle below and go below 14789, we will see larger sell off (also coming below 14445!). So that the upward movement remains intact, the 14708 mark should not be undercut. I´m still in good spirit that the upward movement will continue. I assume that we will hit the lower edge of the triangle again before reaching new all-time highs.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
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