$NQ Fraggle - Bear trap then Bull trap down to $13,300 & beyond
This is where I think the $NQ is going into September and in to 2024. I'm a big believer in fraggles as these algo's tend to rhyme over time. Not for trading decisions, per se, but for projections. Good luck everyone.
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As we go in to the Sunday session in about 5 minutes, I'll be looking to get an hourly close above $15,100 and then a 4-hour close above that level. That is the key inflection point we must gain and hold if we are to see continued upside. If we test that level and reject, it's not looking good for $NQ bulls. Good luck!
A) $NQ will grind up tp ~ $15,080 overnight and sell-off on the open Monday morning.
B) $NQ will dip down overnight, create a new local low beneath $14,650, make a violent move up to $15,220, then kiss these price levels goodbye for the foreseeable future.
C) $NQ will make go as high as $15,550 before kissing these price levels goodbye.
If the market is generous enough to bring us up to $15,550, I will likely add to my short at 15,414.
I believe in my heart of hearts we have the good fortune of having witnessed this bear market rally turn and perhaps you and I can turn a decent profit from having caught it. I wish you all the very best entries and exits, many many profits, and good luck. Cheers!