Nasdaq in the making of a double top pattern
Updated
Nasdaq seems to be in the making of a double top pattern. But it is very important that the bear flag on the right plays out. Otherwise, the double bottom pattern gets too big if the neckline does not break within a day or 2. We had quite rally already the past weeks, so we should see a correction happen soon or a continuation of the bear trend.
If the double top is a real one, we should see a acceleration down if the 6600ish breaks.
If the double top is a real one, we should see a acceleration down if the 6600ish breaks.
Note
Started to look very good yesterday, up until closing and after hours earnings which caused the price to squeeze up. It's already in danger now, the bearish scenario, above that red zone, anything can happen again with upwards movement being more likely. Whatever happens, for the double top to be alive, we should see a drop towards the 6600 (neckline) again today. Otherwise the pattern gets invalid 
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.