NQ was in a spot last night that was showing hope for breaking the lower high trends...unfortunately for the bulls it got rejected from that top red line.
This small channel we are currently in is now important because if we touch the bottom (3rd red line down) it would be a 100% retracement from a big move we saw yesterday, and upon breaking that 3rd line we could be looking to test the recent lows again.
This next support should be pretty strong for us, but Chance favors The prepared mind...have no bias going into the market.
What are your thoughts ?
This small channel we are currently in is now important because if we touch the bottom (3rd red line down) it would be a 100% retracement from a big move we saw yesterday, and upon breaking that 3rd line we could be looking to test the recent lows again.
This next support should be pretty strong for us, but Chance favors The prepared mind...have no bias going into the market.
What are your thoughts ?