Nasdaq broke and closed today a (4h) candle under the MA200 (4h) for the first time January 8th. By doing so it completed a Head and Shoulders formation, which is a bearish reversal pattern. Its target is technically the 2.0 Fibonacci extension.
Trading Plan: 1. Sell on the current market price.
Targets: 1. 17200 (the 2.0 Fibonacci extension, located between Supports 1 and 2).
Tips: 1. The RSI (1d) is inside a Channel Down since the start of Nasdaq's Channel Up, which is a technical Bearish Divergence. It shows that the bullish momentum has lost its strength.