DESCRIPTION: In the chart above I have provided a MACRO analysis of NDQ that is in fact showing strong signs of PENDING CAPITULATION but I will leave the rest to INDIVIDUAL INTERPRETATION.
POINTS: 1. DEVIATION OF 1,000 POINTS is where NDQ usually finds appropriate CONSOLIDATION to then draw out SUPPLY & DEMAND POCKETS. 2. RSI is DANGEROUSLY OVER EXTENDED and looks ready for some PULLBACK. 3. MACD is CONSOLIDATING and moving closer to its MEDIAN SIGNALING A BIG MOVE IS ON THE WAY.
*IMPORTANT (FOOD FOR THOUGHT): ALL SIGNS ARE BEARISH BUT IS THAT WHAT THE MARKET MAKERS WANT US TO THINK? TO MANY PEOPLE ARE BEARISH AND PLACING MONEY ON PUTS. JUST DOUGHT MARKET MAKERS WOULD ALLOW FOR EVERYONES CONTRACTS TO EXPIRE IN THE MONEY.
SCENARIO #1: A BULLISH scenario would require a hold of 11,000 POINTS followed by SIDEWAYS MOVEMENT or a BREAK of TREND.
SCENARIO #2: A BEARISH scenario would require a lose of 11,000 POINTS followed by an AGGRESSIVE BREAK of TREND to the DOWNSIDE.
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