#SPX #DOW #NQ #RUT = Very Bearish Weekly Closure = 16.07.2021 #NQ $SPY #QQQ #US30 #ES_F #RTY_F #NQ_F

The worst materialized. Major indices closed the week with very bearish weekly candles/combos. Expect at least one more week of decline and let’s explore the details.

NDX and SPX – Bearish Engulfing
This formation comes with more than 80% of probability of multi-week decline. The probability of at least one week of decline is close to 90%.

DJI – Advance Block formation

Closed with a Hammer upon an Advance Block. A strong bearish reversal combo. However, not as strong as the Engulfing.

RUT – Bearish Maribozu

The way the candle is formed and placed suggests that the next week RUT to expect more downwards movement.

I would not be surprised with a gap down and go on Monday.

Note that if the indices continue to go down for the next 2 weeks, they would form some bearish monthly candles/combos that would make damage on the monthly frame. Something to keep in mind.

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