NQ Short Idea
NQ finally broke below its major uptrend for 2023. This is one of the most important charts right now in my view. This trend break is everything. Despite a big recovery, NQ remains well below this trendline. It has not retested since it broke and it looks like bulls may wanna push it all the way back up for a retest.
I would fully expect a rejection here on the first try, probably a large one, but it could obviously be yet another dip buy for bulls if it does reject. Either way, if bulls can not reclaim this trend, the downside will continue. I think this short would be one of the best opportunities we've seen all year if it goes back for a retest and actually rejects.
I would fully expect a rejection here on the first try, probably a large one, but it could obviously be yet another dip buy for bulls if it does reject. Either way, if bulls can not reclaim this trend, the downside will continue. I think this short would be one of the best opportunities we've seen all year if it goes back for a retest and actually rejects.
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