Description
⋅ A clear convergence into the 12.5K range would be ideal for 5/5 to complete into March.
The larger and more dangerous structure would be to approach the 2/5 LT Highs - the
Magenta Line.
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I do not believe this will occur, as the NQ has been highly Techincal in Nature, volatile,
but technical.
This correction should conclude with the next 5 weeks into March FOMC.
Asset purchases will expand in the Shadows as the FED reverse a non-existent taper
into a full-blown blow-off into the latter part of 2022.
12, 575 to 11, 736 would be the lower boundary range IMHO.
The Midpoint of these 2 Lower POs would be the 12.1K Range.