NASDAQ in heavy downward momentum
The NASDAQ bounced off the first support and sliced through the second support level. Quite different from was expected, but in any case, this reveals a strong downward momentum towards the 13K support that must not be broken.
To define this... should not close below 13K, but possible to have an intraday spike down to 12900 like previously.
The thing here is that the Weekly candles are nice and long... so bearish momentum in the last three weeks have been strong.
That said, what would this week bring?
Btw... Noted that the weekly MACD had crossed down in bear territory. Not going to be pretty over the next couple of weeks!
To define this... should not close below 13K, but possible to have an intraday spike down to 12900 like previously.
The thing here is that the Weekly candles are nice and long... so bearish momentum in the last three weeks have been strong.
That said, what would this week bring?
Btw... Noted that the weekly MACD had crossed down in bear territory. Not going to be pretty over the next couple of weeks!
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