corgicapitalllc

$NDQ #QQQ $QQQ pulling a Wu-Tang pattern

TVC:NDQ   US 100 Index
looking at the 1hr chart, there is a classic W pattern formation going on here. December was a tough month for tech, and looks to be finally recovering. This weeks moves show a break above the prior down channel, with tightly wound consolidation. TBH I see this going in either direction, but with the tax loss harvesting done for 2021, my money is on volume buy-ins this month, with a beginning of a reversal in March when tapering is ending and rates are set to go up.

NFA

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.