JICPT| Calendar effect & staircase formation weight on Nasdaq!
Hello everyone. Nasdaq has been a bit weak for the past 7 days. What might it go in the short term?
Historically, September has been a down month for the markets, which have seen an average decline of 0.56% in the month since 1945, according to CFRA(I copied this from CNBC).
On the daily chart, I observed that there was no impulsive candle after the rectangle range was being conquered. Instead, 4-5 small basing candles were formed before a series of bearish candles.
Look at the formation of the bearish candles, those are what I called staircase. Normally, I would go away if I'm looking for bullish setups. The correction is not over yet.
The flip & the bottom of the range(15180) may give the price a bit support. I've set a alert for the arrival.
Give me a like if you're with my view. Thank you for your support.
Historically, September has been a down month for the markets, which have seen an average decline of 0.56% in the month since 1945, according to CFRA(I copied this from CNBC).
On the daily chart, I observed that there was no impulsive candle after the rectangle range was being conquered. Instead, 4-5 small basing candles were formed before a series of bearish candles.
Look at the formation of the bearish candles, those are what I called staircase. Normally, I would go away if I'm looking for bullish setups. The correction is not over yet.
The flip & the bottom of the range(15180) may give the price a bit support. I've set a alert for the arrival.
Give me a like if you're with my view. Thank you for your support.
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