NASDAQ downside risk, clear and present
Updated
Similar to the SPY analysis, the NASDAQ is actually slightly more bearish looking...
The daily NQ1! chart has bearish indicators all around, and already is in the immediate downside target range, albeit earlier than projected. The recently broken supports now become resistances.
The weekly chart appears even more bearish with the June lows appearing to be easily taken out, and a breakdown to <10,000 very feasible over the next 4-6 weeks.
The daily NQ1! chart has bearish indicators all around, and already is in the immediate downside target range, albeit earlier than projected. The recently broken supports now become resistances.
The weekly chart appears even more bearish with the June lows appearing to be easily taken out, and a breakdown to <10,000 very feasible over the next 4-6 weeks.
Note
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