NQ hit a significant fib level on the current daily W pattern where a pullback typically takes place if that level can't get a close above it (which it did not). At this point, I believe NQ will at least traverse down to the 12189 area (T1 of a harmonic pattern & just below a gap that still exists in the futures trading when looking at a smaller timeframe chart. From there several options exist. I have displayed 2 general possibilities that I see. It is important to note that NDX (the actual index) has a gap way down below around 11300 (just above T3 of the harmonic as the harmonic has currently printed). Eventually that gap is likely to get filled.... just a question of when and how (as always)
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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.