Tech at bear exhaustion , is it time for a lower high on weekly
Updated
Nasdaq futures are at bear exhaustion point on weekly based on Tom Demark count of 9 week sell. 2-Day period chart is showing up bullish divergence. On Macro coming up G20 summit may help YM and ES and a seasonal Santa rally may help to put in a lower high upto 6680-6706 in coming weeks. But quite a work here to clear resistances on .618 retrace , trending higher moving averages to put this back into a trend into weeks & months.
NQ , clear up those resistance for couple of green candles on weekly
A lower low again testing and testing 52-week lows would make it worse as none of the lower time frames on 2 hour or 8 hour not showing any strength to ignite a counter trend rally to get sold into resistances
NQ , clear up those resistance for couple of green candles on weekly
A lower low again testing and testing 52-week lows would make it worse as none of the lower time frames on 2 hour or 8 hour not showing any strength to ignite a counter trend rally to get sold into resistances
Note
That's a nice 380+ points from the bear exhaustion entry on weekly and 2-Day period regular bullish divergence and might be the first consolidation after this Powell sugar rush.Daily is still only on 3 though, need to see if this goes for daily 9 and reset weekly to green count on 1 again.
It's now time for lower time frames Bull exhaustion for candle closes on 8 Hour /4 Hour showing up 9 completed for a potential mid week consolidation before 6932 for .618 extension on a 2 Hour chart.
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