The Nasdaq failed to break above the LT downward sloping trendline last week on the 12th & has found itself in quite a bearish posturing since.
Things to note: - rejection @ 21 SMA & downward sloping trendline - 21 about to cross below 100 (bearish) - 9 now acting as resistance. BEWARE if this curls down! - Filled our gap this morning @ 11.9k - Bear target #1 July low @ 11.5k - Bear target #2 June low @ 11k
See my earlier work for bear flag measured move targets IF we re-test the June low & it FAILS. Big week with the FED FOMC meeting & rate raise, so be vigilant, don't fomo, avoid hype, read the charts, and for God's sake listen to LeMan!
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