Nasdaq, si,liar to SPY has made 2 diamond patterns in May & June leading to a reversal with positive Rsi divergence. Could it be repeating similar set-up this Sept-Oct? It is currently hovering around the mma50+wma200+June low zone. Sometimes prices break a little below the diamond pattern first eating away the cut-losses before a reversal. If NQ makes another new low after Thursday’s economics data, it will be bad news. Not trading advice
Comment
⋅
All 3 major US indices keep being rejected by the daily ma20. They have to decisively recover the weekly wma200, stay above the monthly mma50 & break above ma20 to be bullish again.