NASDAQ formed Higher Lows with the 1D MA50 being the key.

Nasdaq futures formed a new Higher Low within the long-term Channel Up on Friday and today (due to the Martin Luther King holiday) is naturally consolidating. This is still a bottom formation signal, as the very same Higher Lows pattern (green arrow) was previously seen in early October. That was a bottom formation with the 1D CCI sequences of then and now being identical. The confirmation for a rally will come once the 1D MA50 (blue trend-line) breaks as it happened on October 18.



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