NASDAQ Below the MA50 (1d) for the first time since November.
Nasdaq crossed yesterday under the MA50 (1d) for the first time since November 3rd 2023, as well as the 5 month Channel Up.
This is a major sell signal as last time it did that coming on a Channel Up (August 9th 2023), it initially dipped to the 0.236 Fibonacci level.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 17450 (Fibonacci 0.236 as well as a little over Support (1)).
Tips:
1. The RSI (1d) has been on a Channel Down / Bearish Divergence since January 24th. Additional strong bearish signal at least for the short term.
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This is a major sell signal as last time it did that coming on a Channel Up (August 9th 2023), it initially dipped to the 0.236 Fibonacci level.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 17450 (Fibonacci 0.236 as well as a little over Support (1)).
Tips:
1. The RSI (1d) has been on a Channel Down / Bearish Divergence since January 24th. Additional strong bearish signal at least for the short term.
Please like, follow and comment!!
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