Nasdaq 100 IndexShort
A multi time frame analysis
Daily: at the bottom of a bearish channel
Weekly breaking below the support line strongly
Monthly: lower highs and lower lows for 3 months in a row! this pattern was only seen during the 2022 bearish market in the post-pandemic era!
Conclusion:
It is highly likely that we are moving toward a bearish market and any upward move should be considered temporary
The same story is true for SPX:
https://www.tradingview.com/x/oakLsB7l/
DJI:
https://www.tradingview.com/x/jjqU4bDn/
Weekly breaking below the support line strongly
Monthly: lower highs and lower lows for 3 months in a row! this pattern was only seen during the 2022 bearish market in the post-pandemic era!
Conclusion:
It is highly likely that we are moving toward a bearish market and any upward move should be considered temporary
The same story is true for SPX:
https://www.tradingview.com/x/oakLsB7l/
DJI:
https://www.tradingview.com/x/jjqU4bDn/
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.