NASDAQ under the microscope
Updated
Was just looking at the NASDAQ futures and the price actions over the market holiday yesterday amidst the hype and concerns over Russia-Ukraine issues.
In the NQ1! 4H chart, recent multiple failures of the 55EMA (4H and Daily) technically projected downside for the NASDAQ (amongst other equity indexes). There appears to be a cyclical fear pattern over the last month, and in this current cycle, it should peak down today. Am expecting a spike down type of peak, that tests the support, breaks it somewhat and then a likely rebound ensues (as previously posted that NQ1! should be testing support).
That's what the technicals are hinting to me anyways. There is a near support, but I am looking at possible spike down to 13,000 in the coming days.
Longer term still looks volatile, and longer term target is still lower for now. Absolutely plausible for a major DCB and then a massive turn of events.
I do have a date in mind though... 10 MAY 2022. Watch that date!
Stay safe and well!!!
In the NQ1! 4H chart, recent multiple failures of the 55EMA (4H and Daily) technically projected downside for the NASDAQ (amongst other equity indexes). There appears to be a cyclical fear pattern over the last month, and in this current cycle, it should peak down today. Am expecting a spike down type of peak, that tests the support, breaks it somewhat and then a likely rebound ensues (as previously posted that NQ1! should be testing support).
That's what the technicals are hinting to me anyways. There is a near support, but I am looking at possible spike down to 13,000 in the coming days.
Longer term still looks volatile, and longer term target is still lower for now. Absolutely plausible for a major DCB and then a massive turn of events.
I do have a date in mind though... 10 MAY 2022. Watch that date!
Stay safe and well!!!
Note
Just about a hairline to 13K just now... the cyclical pattern may have been disrupted btw.When the market opens in about 8 hours... it would be interesting.
Note
Spiked down CHECKEDRebound CHECKED
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