TradingView
dRends35
10. Jun. 2022 18:10

NDX - Gap To Fill  Long

NASDAQ:NDX60
NASDAQ 100 IndexNASDAQ

Beschreibung

⋅
Terrible CPI report, large gap down, continuing rally and RSI hits 16.

So in the short term NDX should be overextended.

But perhaps more importantly the long term 1:1 fib has been re=-tested.

And so very likely I think that NDX bounces here to fill the gap and from there we'll see

I'm buying PYPL and ROKU here also, sorry I dont have time to cover them live.

Not advice.

Kommentar

⋅
Getting late in the day and I would guess the up move may start before markets open for the week as they are sneaky like that - but just a guess.
Fibonacci
Kommentare
DaddySawbucks
⋅
crushed it eod as i feared, no longs yet
dRends35
⋅
@DaddySawbucks, Ok 👍🏻.
NoOneWhoIsSomeone
⋅
Markets have dropped so low, they must bounce right..... right?
DaddySawbucks
⋅
@NoOneWhoIsSomeone, no that is never a good reason to buy. it's oversold condition and can extend lower yet, a bounce is likely, timing it is the trick
dRends35
⋅
@NoOneWhoIsSomeone, For my strategy I have been waiting for this re-test of the 1:1 and although my overall bias is bearish, the re-test can be a wave 2 low, also Wyckoff LPS and a significant rally could come from here. And it would be a perfect time for that to happen with bearish market sentiment following the CPI. That said if it trends low and rejects from the 1:1 then big crash coming I think.
NoOneWhoIsSomeone
⋅
@dRends35, Completely logical thesis here, you have a plan, stick to it!
Vibranium_Capital
⋅
interesting one
Mehr