It is with confidence we can say the current minor trend for CME_MINI:NQ1! is bearish, as we are constantly making newer lows. But it's a wide channel with opportunities for both bulls and bears.
The current low sits around 15020, and as I previously mentioned, the 15k level is psychologically important for both bulls and bears. Bulls want to support it and...
The week is almost over and CME_MINI:NQ1! is still under control of the bears. There were some big attempts to break out of the range for bulls, but all failed. As I previously stated in my last post, the target for bears is still around 15100 and we just reached it.
Bears have momentum to keep selling, but large retracements are the normality. Also as a bull,...
It’s relatively easy to say this week had powerful catalysts for bears. Consider US downgrade by Fitch, mixed tech earnings and Trump indictments, CME_MINI:NQ1! couldn’t be saved by the bulls.
So what comes next? Bulls will not give up the major trend; bears have momentum, but also need to be careful. Retracing back to 15600 or even 15700 is a real possibility,...
After a long relentless rally, CME_MINI:NQ1! had a close below 20 days moving average. The US downgrade news helped it tumble.
The idea is that if it is to keep selling, it has to use the current momentum. If the price goes above overnight highs, it could keep rising. Buying above 15510, stop at a 14550.
