Mapping out the next possible and probable step(s) for the indices ( in this case NQUSL )
1. Bounce/relief rally to retest the 200MA and multi-year (purple) trend-line.
Resistance holds, break-down to next support level between 2500-2400.
2. Multi-week trend-line holds as resistance, we break down to next support level between 2500-2400.
3. Bounce to retest the 200MA and multi-year (purple) trend-line.
Bounce holds, we get a 123 breakout above trendline (first multi-month higher low).
1. Bounce/relief rally to retest the 200MA and multi-year (purple) trend-line.
Resistance holds, break-down to next support level between 2500-2400.
2. Multi-week trend-line holds as resistance, we break down to next support level between 2500-2400.
3. Bounce to retest the 200MA and multi-year (purple) trend-line.
Bounce holds, we get a 123 breakout above trendline (first multi-month higher low).