[NDX] Nasdaq100 Hinting at Continued Selling

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
Not a whole lot of technical stuff here, ascending wedge is tightening on price range for the Nasdaq100 Futures chart. Which would suggest a breakdown incoming. NDX being a tech sector barometer, has fared better than the SPX and DJI in the recent volatility whipsawing, if it makes lower lows we could see some issues with the rest.

Whether this means that this recent bounce would just be a corrective wave B, is unknown. We'll have to see how the next week plays out. Headlines keep whipping markets around day after day, Middle East conflicts, Chinese Trade War, Oil Prices, Tech issues, Tweets, etc.

Earnings season is getting started too, but headlines may bury those likely positive fundamentals. Interesting time to observe and learn what traders react to and how.

Also checkout the fib retrace levels. If there is a breakdown, it would have to occur soon around the key 50% and 61.8% levels. Which strengthens the technical case for continued decline. Overall though I'm neutral because volatility and news.

Let me know if you have any thoughts on this!
Comment: We did get a breakdown as expected, turned out to be quite violent especially on the 4/24. Looks like we've been able to dodge the landmine of headline worries, other than the 3% yield issue which should ease quickly now.

Bouncing up now, looks to be in an equilibrium finding pattern. This means likely continuation as the traded range tightens. Break above the upper downtrend line would signal a bigger move upwards!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out