$E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$$Invesco QQQ Tr...
$E-mini NASDAQ 100 Futures(SEP4)(NQmain.US$ $Invesco QQQ Trust(QQQ.US$
$NASDAQ 100 Index(.NDX.US$
Currently on daily chart for futures on NDX there is a head and shoulders forming. If we do not break above the 16450 resistance today and instead continue falling, we will form the right shoulder neckline at the 16000 mark soon. If it does form, be extra cautious as this maybe bigger of a fall than what I initially thought. As VIX is still above 20 despite yesterday close, I did mention do not think the pullback is over yet and it might slowly turn into a correction soon if it falls further down.
As of now, 20SMA seems to be supporting it very well and we will have to see cash open in 1hr to determine through price action.
As always, trade safe & Invest wise!
Do subscribe to my new YouTube channel for your once a week TA and market outlook!
https://www.youtube.com/channel/UCyPNjiwKhSL1p37lqyowuZw
$NASDAQ 100 Index(.NDX.US$
Currently on daily chart for futures on NDX there is a head and shoulders forming. If we do not break above the 16450 resistance today and instead continue falling, we will form the right shoulder neckline at the 16000 mark soon. If it does form, be extra cautious as this maybe bigger of a fall than what I initially thought. As VIX is still above 20 despite yesterday close, I did mention do not think the pullback is over yet and it might slowly turn into a correction soon if it falls further down.
As of now, 20SMA seems to be supporting it very well and we will have to see cash open in 1hr to determine through price action.
As always, trade safe & Invest wise!
Do subscribe to my new YouTube channel for your once a week TA and market outlook!
https://www.youtube.com/channel/UCyPNjiwKhSL1p37lqyowuZw
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Investing 101 OP : Head and shoulders seem intact. Brace yourself for a larger fall coming. May be only a pullback to 20sma on weekly chart or even a full blown correction