Magnelibra Trading & Research

Magnelibra Trading & Research

Nasdaq Continues To Weaken & Ultra Bonds Curiously Bid

Double Top Formation in NQ Still Viable

Mike Agne's avatar
Mike Agne
Jul 23, 2020
∙ Paid

Subscribers we apologize and will send yesterdays data shortly, but two quick charts here, Ultra-bond sensing something under the wings here as it continues to pressure the .786 mid 225 handle:

Secondly after early strength the equity markets are being led lower by the Nasdaq once again and we continue to feel that the double top formation is looming on technicians minds and a close in the NQ under 10630 would prove to be a disastrous confirmation of that double top from Magnelibra’s point of view. 50eMA is magnet for now at 10745:

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