Nasdaq 100 - PG13 - violent downards move

We should be nearing the end of the downwards and continuing upwards trend. Here is a previous call before the drop:

The daily chart is a bit troubling - moving below the MA and also moving below the neckline of that visible M. If it closes below today, seeing it is Friday, we should see a further correction perhaps even a trend reversal for some time.

Tech earnings are mostly beats as that industry is less hit by covid, Mr. Elon the Cook also made a 4 quarter continuous profit so in general, these companies look to bring positive news - still not certain whether the current high prices are absolutely justified, but they are bringing positive news and we are riding the fed support.

To sum up, based on recent correction and support levels, we should have ended the correction or perhaps a quick wick drop further below before resuming upwards trend.

If we break the M neckline and close a red daily, then we are in for some rough days ahead.

Kommentera:

Kommentera:

Shit, this looks perfect as fuck, well done me, good calls are very hard to come by, like 15-30% of the time, but a good catch as this one negates all the other SLs.