Nasdaq and testing time for NASDAQ:NDX by omvats1

Nasdaq is following the triangle pattern and near the low of the pattern so going to test the below trend line

1. day MACD is negative possibility of split, will need a gap up opening or a strong momentum to be positive
2. weekly MACD is negative
3. index is below 3H's 200 MA , previous day took support of 4H's 50 MA, still above 1H's 200 MA, unless it is gap up opening index is looking negative
4. so testing point is the trend line

will try to give further levels in the comment section

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index also formed a smaller triangle pattern

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3M trying to form a doji

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monthly

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weekly

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touched the lower trend line, lets see

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index took support at a weekly inside bar level

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3M perfect doji

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a perfect weekly closing

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14695.87 was my last weekly level

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this channel will continue but will add new weekly and monthly lines

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this time NAS breached the normal day levels and took support at the extended day level ( light green dotted line)

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also followed the downward pattern

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index is still below weekly mid bollinger and new week opening below mid bollinger might be negative

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almost at the mid of previous monthly candle, if Nas is interested in forming a range it will close in between the 2 extremes to form a inside bar, otherwise, will try to breach one end, still above monthly 10 MA, important is whether the index will approach the monthly 10 MA or v/v

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4H closed below the 200 MA

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