While not the perfect spot for a Inverse Head & Shoulders pattern, but all the hallmarks are there, including a previous decline...Check! A left lower shoulder....Check! A head (Friday's low)...Check! And finally a well-developed neckline (probably the most important!)
Now the Nasdaq 100 futures chart need only to hold-up in the 11.7K region (last Thursday's low), which it has done so far. Next,pattern's neckline for confirmation all that would need to happen is for price-action to take-out the neckline which is located at the recent highs seen over the last two days just above 12K
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Didn't exactly, but equities over-all held-in Tuesday. Focus shifts to the so-called neckline (NQ) above 12k to confirm medium-term basing.
Long around 11.8k for a move towards 12.1k 1st then 12.4.....