Hi all,
Something I've noticed on the NQ futures compared to the NDX. There has been significant bearish divergence on both RSI and MACD for the month of August with each new high having lower momentum. I must note there has been a bullish divergence as well. However, due to the marco-environment, I'm leaning towards a negative perspective as it has also formed a potential wedge where we could see a large decline in the next week or two. It will just need a catalyst.
I appreciate anyone who sees something else here.
Cheers,
Sandy
Something I've noticed on the NQ futures compared to the NDX. There has been significant bearish divergence on both RSI and MACD for the month of August with each new high having lower momentum. I must note there has been a bullish divergence as well. However, due to the marco-environment, I'm leaning towards a negative perspective as it has also formed a potential wedge where we could see a large decline in the next week or two. It will just need a catalyst.
I appreciate anyone who sees something else here.
Cheers,
Sandy