NASDAQ under the microscope
In the NQ1! 4H chart, recent multiple failures of the 55EMA (4H and Daily) technically projected downside for the NASDAQ (amongst other equity indexes). There appears to be a cyclical fear pattern over the last month, and in this current cycle, it should peak down today. Am expecting a spike down type of peak, that tests the support, breaks it somewhat and then a likely rebound ensues (as previously posted that NQ1! should be testing support).
That’s what the technicals are hinting to me anyways. Longer term still looks volatile, and longer term target is still lower for now. Absolutely plausible for a major DCB and then a massive turn of events.
I do have a date in mind though… 10 MAY 2022. Watch that date!
Stay safe and well!!!