Similarly to a previous idea posted (and linked below), the NASDAQ is likely to have topped. In fact, the technical outlook for NASDAQ looks a lot more challenging as the Relative Price Momentum Indicator turned down in bear territory.
Point here I wanted to bring up is that the last three weeks candlesticks can be viewed slightly differently, giving a deeper analysis.
Note the box in the chart...
IF we combine the two green candles, and we can do that as it is pretty much a meeting point continuation of the two weekly candles, and this week's candle, we get a Inside candle pattern, the set up for a Three Inside Down, most likely.
Watch the coming week... check at the end of the week and you may see what I mean!
Point here I wanted to bring up is that the last three weeks candlesticks can be viewed slightly differently, giving a deeper analysis.
Note the box in the chart...
IF we combine the two green candles, and we can do that as it is pretty much a meeting point continuation of the two weekly candles, and this week's candle, we get a Inside candle pattern, the set up for a Three Inside Down, most likely.
Watch the coming week... check at the end of the week and you may see what I mean!
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