Good Morning Everyone,
Hope all is well. NDX is looking toppy throughout the last week. Lets break it down.
We had a nice strong bullish movement April 7th. This led to a bloom in the market and some nice green rallies. We have only had "1" confirmed support throughout this rally and "1" confirmed resistance.
We have a double top that has formed, you can see this in the two yellow circles. The trend itself is starting to top out on RSI & volume is decreasing. This is all signalling that a path down to find a new support is coming.
Right now I hold 0 of anything. I sold my portfolio this morning and am waiting for re-entry. Yes this was a bit early as I have not confirmed a 2nd resistance however I am playing safe right now.
Enjoy!
Hope all is well. NDX is looking toppy throughout the last week. Lets break it down.
We had a nice strong bullish movement April 7th. This led to a bloom in the market and some nice green rallies. We have only had "1" confirmed support throughout this rally and "1" confirmed resistance.
We have a double top that has formed, you can see this in the two yellow circles. The trend itself is starting to top out on RSI & volume is decreasing. This is all signalling that a path down to find a new support is coming.
Right now I hold 0 of anything. I sold my portfolio this morning and am waiting for re-entry. Yes this was a bit early as I have not confirmed a 2nd resistance however I am playing safe right now.
Enjoy!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.