NQ is at the top of Daily Descending Wedge

9 ago 2022

Using "COVID LOW" and current downtrend to draw a "Descending Wedge" a firm break above this wedge may yield some fall-through this fall

5 set 2022

Nota

Wow- crappy few weeks- back down at the bottom of the wedge, my understanding here is generally that descending wedges that break to the downside are followed through by lower prices, so I wouldn't try to "buy the dip" below 12k even if yields remain relatively flat this fall, Fed is still draining the proverbial pool, and tech-companies are still cutting head-counts and battening down the hatches (Remember FB revenue fell Y-O-Y for first time as a public company last quarter)