Nice symmetry on the 5 minute NQ Nasdaq e-mini futures chart today. Down 20 points. A double bottom was formed. Up 10. Clean pullbacks with immedate bullish candles. Up 10 points. Another round of clean consolidation, which was followed by 5 points up, and 5 points down.
In my last post on the 9th, I mentioned how buyers of that breakout at recent highs were trapped. Today on the 23rd we touched and tested the trendline from that top. The NQ has confirmed a trend down on the daily with it’s lower low. Failure to continue lower here quickly may indicate a year end rally if today was a fakeout and trapped the bears.