The GAP Gives It Away | Nasdaq
Updated
We have different signals to look at on the Nasdaw (NDX) chart.
We looked at the SPX and DJI, each has its own signal that support a continuation of the bearish correction, here we have new ones.
First, let's start with the "Hanging man".
This is the candle that showed up on 2-Feb. 2022. This is a bearish candle.
To make things worse, the day that followed we have a "falling window" or "GAP" as prices for the NDX opened much lowered compared to the previous day low.
All in all this is highly negative, the candle opened below EMA10 which supports the other signals.
Conditions for change
If the NDX moves up resistance will first be found at the falling window.
The final resistance is at the "hanging man's" high (upper shadow). If this level is broken, these signals are invalidated.
Any trading below these levels and the bearish bias remains strong.
Are we going down this very same week?
That's my believe based on the chart.
What's your take?
Leave us a comment.
Namaste.
We looked at the SPX and DJI, each has its own signal that support a continuation of the bearish correction, here we have new ones.
First, let's start with the "Hanging man".
This is the candle that showed up on 2-Feb. 2022. This is a bearish candle.
To make things worse, the day that followed we have a "falling window" or "GAP" as prices for the NDX opened much lowered compared to the previous day low.
All in all this is highly negative, the candle opened below EMA10 which supports the other signals.
Conditions for change
If the NDX moves up resistance will first be found at the falling window.
The final resistance is at the "hanging man's" high (upper shadow). If this level is broken, these signals are invalidated.
Any trading below these levels and the bearish bias remains strong.
Are we going down this very same week?
That's my believe based on the chart.
What's your take?
Leave us a comment.
Namaste.
Note
Went to the gap just to be rejected... The crash comes next.Trade closed: target reached
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