NQ was going parabolic and pierced above a significant parallel channel for 2 days - helped no doubt by both TSLA's and AAPL's stock split which for some reason invoked plenty of bullishness. Perhaps the big boys were patiently waiting for the last bull to get on board before the shakeout began.
In just 2 days, NQ gave back a whopping 3 weeks of gain! The attack was swift, hitting into the lower part of the Regression Channel support this morning (it appears both the BB bears and bulls were watching this same Channel..?) before the bears started covering and the bulls started to dip their toes in..
The trend is still up as of now and the candlestick that is forming now is telling that the bulls are now back in control. We could have more volatility over the next few days but as long as NQ stays within the rising channel, then the bigger trend is still intact.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
In just 2 days, NQ gave back a whopping 3 weeks of gain! The attack was swift, hitting into the lower part of the Regression Channel support this morning (it appears both the BB bears and bulls were watching this same Channel..?) before the bears started covering and the bulls started to dip their toes in..
The trend is still up as of now and the candlestick that is forming now is telling that the bulls are now back in control. We could have more volatility over the next few days but as long as NQ stays within the rising channel, then the bigger trend is still intact.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
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