NQ riding the trendline, it will loose it at some point
That trendline (black) is what Im watching for the NQ to get a confirmation of a breakdown, without it it can extend higher.
Needs to break the line, close 1h under 11735 and re-test the broken trendline to confirm the top.
As stated before, Im going to reduce my protective longs by 50%, if we gap up tomorrow, already started here.
BTW one important thing is that NDX topped at the crossing of some very important trendlines, it was a trendline confluence today:)
Needs to break the line, close 1h under 11735 and re-test the broken trendline to confirm the top.
As stated before, Im going to reduce my protective longs by 50%, if we gap up tomorrow, already started here.
BTW one important thing is that NDX topped at the crossing of some very important trendlines, it was a trendline confluence today:)
Comment:
BTW NQ already retraced 61.8% from the closing lows when ES is weaker and got a bit over then 38.2%