NDX : Expecting a sell-off in the near term

Jan 3

Some key levels have been broken and also the market did reverse after taking the all-time highs. The momentum to the upside was fading and it is evident from the smaller ascending channel formed when the all-time high was taken out. Right after that, the market broke the ascending channel with momentum and this also adds up the possibility for a sell-off in the near future.

Expecting a crash to at least the lower trendline of the larger ascending channel. If price couldn't hold those levels then we can expect further sell-off.

I'll be booking profits in individual stocks if they are close to inflection levels and thereby maintaining some cash positions to prepare for this crash.