NDX - Time For A Correction ?

2024年1月25日

Its worth noticing that Nasdaq has printed a gap (exhaustion?) up and small upper wicked candle with bearish body right at the 1.786 overshoot ratio of the 1:1.618 Golden Window taken from the 2 month correction in 2023.

So this might be a top for this area.

It doesn't mean that Nasdaq must have a major correction since the pivots are within the trend.

And so I think a minor degree correction is most likely if it does correct here.

I am bullish in higher time frame but neutral in this area.

However I am making a few short entries in weak looking stocks for if the index trend does buckle and may post another short soon.

Not advice

2024年2月1日

註釋

Nasdaq gapped down yesterday and printed a bearish candle.

Notice that it topped plumb on the 1.786 overshoot ratio of the two point Fibonacci extension.