With the biggest companies in the world announcing earnings this week, big volatility is almost surely in tow. Today was a pivotal day as the SP500 looked to break out of its current resistance and stage a breakout, however it was quickly refuted and price action was pushed back under 2900.
Here we can see a similar setup taking place on the NAS100: The supply zone is getting squeezed, and an almost perfect resistance line can be seen at 9k. As we tested this big supply zone for the 4th time or so over the last couple of months, it got rejected once again.
With RSI diverging and OBV looking for a reversal back downwards, the bear case is still strong on both the S&P and the NDX.
Here we can see a similar setup taking place on the NAS100: The supply zone is getting squeezed, and an almost perfect resistance line can be seen at 9k. As we tested this big supply zone for the 4th time or so over the last couple of months, it got rejected once again.
With RSI diverging and OBV looking for a reversal back downwards, the bear case is still strong on both the S&P and the NDX.
