Not saying that the NASDAQ might not have a blow off top, but the lower high and the stalling and the candlestick patterns suggest that there is a break down incoming. MACD levelled off and is retracing already.
Likely a reversion to mean retracement, and breaking down below 11,355 (the TDST) is bad news...
Very interesting view on the current price action. We analyze it also extensively on our idea, have a look:
Woerle
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........ for today, I agree with you, because of inside candles, which proposes a downward movement. Nevertheless, I believe we will see another upside move next week before price is rolling over. RSI is on the upper belt and MACD is flattening..........
Auguraltrader
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Hi @Woerle Thanks for the comment, cannot disagree. After the first breakdown, needs a retest to fail.
Wdym when you said “RSI is on the upper belt”?
Tonight being Friday, let’s see how ugly this gets to end the week.