Bears tried to short Netflix, Amazon, and Tesla again. Their short covering absolutely pumptarded the NQ out of its 4 month channel.
I was experimenting this resistance 2 weeks ago and didn't think I would use it. Here is the last resistance I can think of for the NQ.
I am not a financial advisor. However, I would not go long when an index pops above its channel. Put/call ratio is around 0.70. Below 0.70 is considered extreme.
I was experimenting this resistance 2 weeks ago and didn't think I would use it. Here is the last resistance I can think of for the NQ.
I am not a financial advisor. However, I would not go long when an index pops above its channel. Put/call ratio is around 0.70. Below 0.70 is considered extreme.
Note
And the Put/Call Ratio came to life! NQ is back in my channel. It tried to break out of it and failed.Note
That last historical resistance held. The NQ was within 40 points of it.
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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.