$E-mini NASDAQ 100 Futures(SEP4) (NQmain.US)$$NASDAQ 100 Ind...
$E-mini NASDAQ 100 Futures(SEP4)(NQmain.US$ $NASDAQ 100 Index(.NDX.US$ $Invesco QQQ Trust(QQQ.US$
There is a bearish divergence on RSI on 5min, 30min and 1hr chart of ndx futures and QQQ.
There is a bearish divergence on RSI on 5min, 30min and 1hr chart of ndx futures and QQQ.
We could see ndx going down to retest 15800 levels again to cover the gap created 2 days ago before the next rally up. On the QQQ around 386 levels for the gap cover.
This can also be confirmed if we do not cross above 16450 on ndx futures and 401 on QQQ which is the major resistance point.
However once we break the major resistance. It is going to be unlikely to cover the bottom gaps and that means we will only cover them on the next correction.
When it retrace down to cover the gap, it is a good opportunity to be buying that dip as we will unlikely break the 15500 lows based on this current rally. But make sure you see the confirmation that it rebounds off that level and doesn't slice right through the 15800 or 386 on QQQ. Because if it does, that means the Tuesday rally was a dead cat bounce before we head to new lows.
As always, trade safe & invest wise!
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Safari Pokemon : Nasdaq has good support at 15700+-
Investing 101 OP : Yes I see it around the 15600 to 15800 range as a strong demand zone.
Investing 101 OP : We might be experiencing that pullback today. 1st support 16200. Next is down at 16150 and 16029.
We will see the real sell happen tmr if we are to go down to cover the gap at 15800 due to CPI data tmr. Tonight will only be a small sell off from what I feel. But this are the supports to look out for.
Investphil Investing 101 OP : so you think it will drop tomorrow?
Investing 101 OP Investphil : will have to see today first. seems like it rebounded off 16250. we will see later. as long NDX doesnt break 16450, it is bearish as 16450 has been the strongest resistance so far in this pullback. hit it 3 times already and still cant break