NASDAQ: Bearish Alert: 05.05.2021

Nasdaq 100 closed today in a very bearish mood. It confirmed the gap down of yesterday and formed a Bearish Island on the daily chart. From the candles perspective, it means that NQ could go down at least 14% (~12000) or possibly 27% (~10000) in the very near future.

I also took a snapshot of the daily candles of Microsoft, Apple, Amazon, Facebook and Google. They all created the very bearish candles/combos. I would be very surprised if the market rallies from here.

I shared the longer term forecast yesterday – there is a chance that a big correction is underway.

Follow @InvestingAngles

%d bloggers like this: