As we warned in our last post, the Nasdaq was treading water around the top of our Long Term Trend channel and today it busted back down. Yes we know equities are heavily supported by ongoing Cbank balance sheet expansion, despite that, we also know that location is everything! We pointed this out last week for a reason and here is an updated NQ futures chart:
We like pointing out chart structures like this to our readers so that they can make their own informed choices. We try to bring a professional outlook to your analytics, one that has been forged from over two decades of trading and research. We hope you get out of it what we want you too and we hope you continue to read our thoughts.
As for a quick snapshot of the current equities Magnelibra Econemotions follows you can see the Nasdaq is leading the way lower today:
