Obviously this chart is similar to Nasdaq100.
- Ichimoku: bullish
- EWO and MACD: bullish, but EWO ticked lower already
- After a lower high yesterday, today's Heikin-Ashi candle signals indecision, haDelta+ and haOscillator crossed down -> start of consolidation or pull back
- Supports: 2304 (Kijun Sen) / 2274,5 (forward Senkou B)
- Lower key levels drifted higher in last few weeks: Weekly Kijun Sen is at 2186, and Monthly Kijun Sen is at 2077. As you see, this is below the major bullish trendline.
Major bear markets are confirmed when price drops below weekly Kijun or more importantly the monthly Kijun! All the rest is just called correction.
Note: $ES is weaker than $NQ. If you consider a small swing short, probably this index is a better candidate. Initial swing short tgt can be 2275-2305 zone.
- Ichimoku: bullish
- EWO and MACD: bullish, but EWO ticked lower already
- After a lower high yesterday, today's Heikin-Ashi candle signals indecision, haDelta+ and haOscillator crossed down -> start of consolidation or pull back
- Supports: 2304 (Kijun Sen) / 2274,5 (forward Senkou B)
- Lower key levels drifted higher in last few weeks: Weekly Kijun Sen is at 2186, and Monthly Kijun Sen is at 2077. As you see, this is below the major bullish trendline.
Major bear markets are confirmed when price drops below weekly Kijun or more importantly the monthly Kijun! All the rest is just called correction.
Note: $ES is weaker than $NQ. If you consider a small swing short, probably this index is a better candidate. Initial swing short tgt can be 2275-2305 zone.
