I'm looking for Nasdaq to show some strength on the back of a recent trendline break, and subsequent retrace/bounce at a major fib level. I'd like to see it follow through to the next higher area where price was pivoting previously. I'd also like to see it go higher, but it has to get to 13650 before it can get to 13700 because that is how numbers work.
MACD histogram green after a lengthy red period. MACD signal lines have crossed into a buy signal. RSI is starting to head back up away from oversold. CCI is giving bullish divergence. OBV is starting to creep back up, but nothing eye popping.
Will the fakeout happen or will TA show its power
9th of April maybe 6524 #doggonacci
The price is at the support area of the lower degree timeframe, so theoretically speaking the bounce is possible, but what we saw before Friday was decreasing price range on the almost the same volume, so continuation of a down-movement is also possible. Details on the chart with possible directions, and as we do not want to be gamblers, better to wait and see...