NDX - On The Fence

Similar to SPX, NDX although it made a second strong move upward I dont like the gap down, nor that it falls to effectively engulf the up move.

And so I think this could be a shakeout reversal and Wyckoff UT UpThrust that could see NDX either re-test the 1:1 before a harder bounce, or begin the next leg down.

But I'm not confident either way so I'll need to see more chart and will not be entering any Nasdaq stocks for now.

Not advice.

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This could potentially fill the gap to form a H&S / LPSY.

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Gap filled, H&S printed, if it falls then its LPSY and i'm guessing it will and re-test the 1:1.

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Its either going to go up or down 🤔.

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NDX looks ugly here in this LTF ascending channel which is often bearish. I'm not making any new stock trades. This is a very complex correction now so a bearish corrective pattern can easily lead to a bullish corrective pattern.

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Uhh yuck thats really sloppy price action.

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I'm not on the fence anymore 😄