NQ Bear Time
Its been a very eventful week. Tech has went on a massive run the past couple months and became the market leader again. I don't think this is sustainable in this global financial environment. Macro aside we had fomc today and based off the reaction (huge selling volume to end the day) I think we may have seen the highs on NQ today. The sell off caused a nasty bearish hammer candle with a huge wick upwards and closing at lows. This type of candle can signal distribution. On the hourly timeframe you can see very sizeable sell volume near NYSE close. Not a good sign for bolls imo. Could be wrong but we shall see. NEVER financial advice just a little trading journal. I may start posting my ideas more often again to see how my theories and insights play out.
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