SviCapital

NQ1!, Consolidation at Low Prices, Month End Jittery

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
On Friday the bulls tried to hold the trend line but eventually lost it. That led to a liquidation move and retest the support below which was taken out thanks too headlines. Price came down to retest low prices where responsive buyers were active. The last push up happened into the closing which may suggests a short covering rally ahead of the weekend. The market closed at the broken support now resistance. There is a slight positive divergence which may play out if the market comes down to retest the lows and forms a double bottom pattern. If the price comes to retest the support below it would be even more attractive for the bulls. Oversold market at the support is a gift.

For now, I expect some consolidation to take place on Monday and perhaps month end chop.

9/28/2019
buy time
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I think we will breakdown further.... let's see
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SviCapital LoLBeach
@LoLBeach, anything is possible. Trading patterns frees me from thinking...
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LoLBeach SviCapital
@SviCapital, wise zen should be your nickname
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