NQ Invesere head & shoulder formation daily chart

[Overnight]

LOL - that H&S is not holding up so well. Price needs to close above the high over the neckline to make this a legit H&S.

View attachment 284854

That is hysterical! You point out a measly 40-point drop in an 800-point range as an "ooops"? Ooops! Ack!

 

[nitrene]

10Y yield and Dollar Index (below) should point the way. Red horizontal is long term weekly resistance that turned (?) to support looking to be tested from above. If it holds and dollar resumes bull trend indexes likely head further south. And vice versa.
View attachment 284853

No way there is any legitimate rally in markets without Euro & Yen rallying. Today Euro was up over 1% which explains the rally fairly well. There is still massive volatility. There were times when NQ gave up & recovered gains of 1-1.5% in a matter of minutes.

 

[SunTrader]

No way there is any legitimate rally in markets without Euro & Yen rallying. Today Euro was up over 1% which explains the rally fairly well. There is still massive volatility. There were times when NQ gave up & recovered gains of 1-1.5% in a matter of minutes.

They didn't really rally - they just got the benefit of the dollar weakening .... a little.

Today, so far, it has flipped back around.

 

[Rickshaw Man]

Big failure on the H&S pattern. Could be looking at a double bottom now.

 

[SunTrader]

Dollar (DXY) flipped back around south again. 10Y yield as well.

 

[easymon1]

 

[easymon1]

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