E-mini (NQ) Index Potentially Bearish Closing Price Reversal Top
E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Close Under 8461.25 Patterns Potentially Bearish Closing Price Reversal Top
The principal trend is up according to the daily swing chart. The uptrend was reaffirmed earlier in the session. A trade within the intraday high at 8552.75. will signal a continuation of the uptrend.
The principal trend will change to down on a trade through 8164.75. This is highly unlikely, but the index is inside the window of time for a closing price reversal top.
A close below 8461.25 will form a closing price reversal peak. This chart pattern won’t show a change in trend, but it will show the selling is greater than the buying at prevailing price levels. If confirmed on Monday, it could lead to a two to three-day correction.
The minor trend is also up. A trade through 8297.00 will change the minor trend to down. This will also shift momentum to the downside.
The principal trend is up according to the daily swing chart. The uptrend was reaffirmed earlier in the session. A trade within the intraday high at 8552.75. will signal a continuation of the uptrend.
The principal trend will change to down on a trade through 8164.75. This is highly unlikely, but the index is inside the window of time for a closing price reversal top.
A close below 8461.25 will form a closing price reversal peak. This chart pattern won’t show a change in trend, but it will show the selling is greater than the buying at prevailing price levels. If confirmed on Monday, it could lead to a two to three-day correction.
The minor trend is also up. A trade through 8297.00 will change the minor trend to down. This will also shift momentum to the downside.