The NQ daily time frame has created a small sideways range. If the market can hold at support, now is the time for the buyers to bring the market back up... If support fails. The market could push deeper bearish and will need to bring in a daily down fib to find the next potential low price.
It is in my belief that we are looking at a downturn to the markets. As long as Biden is leading in the polls you going to start to see this market go lower. I don't think we have to wait for the actual election in November. I believe that this market could drop from where its at now to 9360 but it won't be all at once. It will be gradual. And depending on the results of the election your going to see more downward if Biden wins and a rocket lunch if Trump wins. I think you feel the same way Josh based upon your advice in the war room. Right now I feel this market is for gamblers, not people who have a strategic system. I think I may watch the Gold and Silver market right now. I think in the long run these may be a safer direction. Thanks for your info.!
therealtimeframeking
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@Analyzer2020, very good speculation. The way NASDAQ is right now would be suited for gamblers and not traders with a thorough trading plan. You put it perfectly.
godess04
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@Analyzer2020 better check the CL trying to break through 42 usd very soon.
therealtimeframeking
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According to the rules us WAR ROOM members follow, in my opinion, Market is currently in the sell zone so - yes - if NASDAQ is going to be bullish anytime soon - now would, indeed, be the time for the bulls to take control. Although, even if the bulls take control, if the market closes bearish on the backside of the trend line, it’d save to assume the sellers are now in control. Especially if price closes bearish on the backside of the trend line coupled with a counter-trend line break - this would be further confirmation that the sellers have taken control.
LuisBeltre
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looks like it bounce off
JoelSas00
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Thanks for your updates. The market turned down on this quad witching market, which generally seems to have a lot of volatility.
tuongvy0501
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What is the support? I thought it was 11k but it made new low today under 10.9
therealtimeframeking
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@tuongvy0501, think of a support level more As a support area. This will help you in the long run with regards to identifying key levels or, rather, key areas of interest in a given market