Now NDX futures have a record high that needs to trade in regular trading hours at some point, more a matter of when than anything.Shooting star weekly candle for the NDX.
Welp. I shouldn't have been talking and the small cap tech weakness was indeed a canary in the coal mine.
Very notable because the Dow posted one a couple months ago and it can't make a higher high since then. In fact it likely just posted a similar weekly rejection to one in June where it was very weak afterward.
Time for the traditional one day vacuum followed by a multi-week snap-back to new ATHs. You can look at whatever index or whatever technical indicators you want, but that's the basic pattern. One day, that will change. But persistence has been paying out bigly.
Beat me to it. I loaded doge a few days ago when Bitty closed that 4 hour candle outside of the downtrend. Pretty easy setup. I think we should have another headfake or two though. Or maybe we just go straight back to retesting those ATH’s. Who knows.