When NAS weekly RSI is under 40, it tests the 100W or 200W emas
We may have much further to fall, tho maybe not right away. Looking back at least 20 years, whenever NAS RSI has been 40 or less, it also tested 100W or 200W emas. Only one time it didn't, but came very close.
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Going back to 2004, it touched the 100W or 200W 11 out of 12 times RSI was 40 or less.
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Target hit and support shown. Two Doji Dragonfly weekly candles in a row, closing at the same level.
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I'm long here for the time being. I could see a big crash coming when rate hikes plateau, but not before; and I'm not gonna hold my breathe for it. This is the most advertised recession ever.
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Yeah this a bit concerning for bulls, I've been short for weeks.
