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Ndxshort

We're going down short-term whether you're a bull or bear.We need a correction in the short term, whether we're going on to make new highs or lows. So the orange line is currently in play. IF we are indeed in a new uptrend and going to make higher highs, we should see major support around 7,500 (which still implies -10% over the next couple weeks). And a 3-wave move on the downside IF we are continuing the downtrend, we should see more bad days than good coming up for the markets. Personally I plan to short this market until we get to major fib supports. Then maybe take some profits and wait to see if we get a good positive reaction off those levels. The counter trend up-rally over the last month has been solely based on central bank liquidity injections. Amazon just reported that they might report a loss for Q2 and Apple says they can't give direction. Which = Uncertainty = negative for markets
NASDAQ:NDXShort
by MonetaryRebel
Nasdaq 100 (3H) / Primary & Alternate (Green) We are drifting into the inferior part of the channel. As you can see, prices are well contained within parallel lines since the bottom and have been flirting all the way up around the ML. This is not bullish price action. Within an impulse, the base channel is usually breached to the upside. We may have topped at the 1:1 extension in SPX and at the 1.272 in NDX. Bullish case still on the table (you never know) but less likely IMHO.
OANDA:NAS100USDShort
by TradingSurfers