Are we over extended again already?

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According to the weighted average envelope, yes. the 4 hr chart looks like it has retraced to a trend extension of fib and the central weighting of volume and averages that it is selling off from this squeeze. the nasdaq daily candle has a wick suggesting the intraday has been used for profit taking, and a continuation of the weekly downtrend could be likely, even if we have 3 bullish weeks in a row including this one.

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ملاحظة

ive drawn a volume box around this trend, and ive taken all the volume averages of the price and weighted them to that move

im looking at these levels with a rsi/supertrend and trama strategy that takes the averages and weights them to that move

٢٤ أبريل ٢٠٢٤

ملاحظة

gap has closed, market is overselling and we should bounce to the trend nav

٢٤ أبريل ٢٠٢٤

ملاحظة

what do these divergences tell us about inflection in added risk environment?

the trend overall is down, but the intermediate technicals are supressed yo the upside

٢٤ أبريل ٢٠٢٤

ملاحظة

nasdaq has bounced, and is setting a lower high
should resume selling towards close

٢٥ أبريل ٢٠٢٤

ملاحظة

nasdaq could close gap, and remain diverged

would remain sell along these lines according to long algo