Possible outlooks
Updated
Hello:
As I was analyzing the NQ movements, I still believe that NQ is in a 5-bearish-waves. Because of that, I believe further downside would come later on. When looking at the orange blocks, I am noticing a 5-bearish-waves as well. However, I think there is still some upside for NQ tonight. Politically speaking, you have the House voting for the $2 trillion bill tonight(buy the rumor, sell the news.) That's what the chart presents as well: a possible pullback to 7735.25, or the .5 Fibo retracement level. Overall, I am really bearish on NQ, but expect some pullback, in which you can grab more shorts before the bleeding. Long term goal would be around $6519.
GL to Y'all
As I was analyzing the NQ movements, I still believe that NQ is in a 5-bearish-waves. Because of that, I believe further downside would come later on. When looking at the orange blocks, I am noticing a 5-bearish-waves as well. However, I think there is still some upside for NQ tonight. Politically speaking, you have the House voting for the $2 trillion bill tonight(buy the rumor, sell the news.) That's what the chart presents as well: a possible pullback to 7735.25, or the .5 Fibo retracement level. Overall, I am really bearish on NQ, but expect some pullback, in which you can grab more shorts before the bleeding. Long term goal would be around $6519.
GL to Y'all
Note
Gosh, I forgot to mention the decreasing volume. Oh well, it's pretty much bearish for sure lol
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.