competing with the bullish longer frame iH&S thesis. SPX is in danger of a double top at ATH going into the Quad witch/FOMO rumble. SPX rejecting the 5 min 8 EMA ..always two sides.
Nasdaq broke the falling structure last week towards the upsides, we saw the price come back down to retest the previous structure and then went back up. We have come to a very strong resistance area 13079, which really needs a break for the market to continue. For the bulls a break of 13079, nasdaq will continue to 13320-13885.
However if market does fail to...
Today's move in NAS found the halfway point for resistance when compared to the last two bull moves. The 2nd and 3rd bull moves were nearly identical, with the first overthrowing the .786
The market has finally broken out of consolidation and broken through market structure. We may now get some retest before the market continues with its bullish trend. I'm looking for 13295 as the next target as soon as we break from this little resistance at 13000. Right now I wouldn't look for any sells as this market is overall a bullish trend.
Nasdaq is a...
the selling has cooled with NAS looking to break-out of it's hourly, week long, bear flag. 10 note auction tomorrow. This pattern will likely create some overhead supply to top -fish in the coming weeks.
NAS continues to work through the confirmed 8 hour H&S . Echoes of the pattern are moving through technology with multiple confirmed H&S patterns on the board. On the right side of the screen shows NAS price fade off the channel fib bumper and roll-over, onto the consolidation channle. On the look out for premarket liquidity rampsand subsequent distribution at the bell.
