Sudden Loss Then A Drop... Straight Down
Nasdaq 100 Futures Chart pattern is a very dangerous one,
showing a measured upside breakout move to an almost predetermined destination point of 7850,
at least the way I measured, it was an exact hit, and then just as suddenly,... a move straight down.
NQM June 2019 contract has hit a huge air pocket,
after constructing a broad topping pattern on the chart.
I've left the chart alone, without anointment so you can see very clearly what has happened here.
The puncturing of this pattern to the downside, occurred seconds, after the Google's earnings announcement on 4/29
The volatility of this type of pattern should be watched very carefully.
Sharp moves, in either direction, can come with little warning,
so traders need to be very careful here.
However, it is until proven otherwise, a busted short term pattern.
Loss of confidence has now entered the market, with one fall swoop.
Technology is now under pressure.
Next up, Apples earnings, after the close today.
THE_UNWIND
4/30/19
NEW YORK
showing a measured upside breakout move to an almost predetermined destination point of 7850,
at least the way I measured, it was an exact hit, and then just as suddenly,... a move straight down.
NQM June 2019 contract has hit a huge air pocket,
after constructing a broad topping pattern on the chart.
I've left the chart alone, without anointment so you can see very clearly what has happened here.
The puncturing of this pattern to the downside, occurred seconds, after the Google's earnings announcement on 4/29
The volatility of this type of pattern should be watched very carefully.
Sharp moves, in either direction, can come with little warning,
so traders need to be very careful here.
However, it is until proven otherwise, a busted short term pattern.
Loss of confidence has now entered the market, with one fall swoop.
Technology is now under pressure.
Next up, Apples earnings, after the close today.
THE_UNWIND
4/30/19
NEW YORK