NDX Daily TF
As noted in the weekly TF update, the NDX has been bouncing around in a Bear Flag since the June low @ $11,040.
Things to note on the daily TF:
- rejection @ BF resistance channel @ 13.7K on Aug 16
- got a bearish cross of the 9SMA below the 21 on Aug 26
- price action is below the 9/21/50/100/200/300 SMAs which is bearish, BUT the 50 looks like it might want to cross the 100 which would be bullish for the short-term
- we got a bearish breakdown of the BF support channel @ 12.3K on Sept 1 & closed 2 daily candles BELOW it (bearish)
- on the bullish side, we are holding at a strong liquidity zone around
12K which could signify that the market wants a relief bounce
Things to note on the daily TF:
- rejection @ BF resistance channel @ 13.7K on Aug 16
- got a bearish cross of the 9SMA below the 21 on Aug 26
- price action is below the 9/21/50/100/200/300 SMAs which is bearish, BUT the 50 looks like it might want to cross the 100 which would be bullish for the short-term
- we got a bearish breakdown of the BF support channel @ 12.3K on Sept 1 & closed 2 daily candles BELOW it (bearish)
- on the bullish side, we are holding at a strong liquidity zone around
12K which could signify that the market wants a relief bounce
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.