Superior Profit
Time to be cautious on the USA Market?

In the latest Weekly Roundup (live webinar was on Saturday, and the video was published on Sunday), we had analyzed the Market from multiple angles and had mentioned that Market is Bullish with some reasons for concern.

One of those concerns was the Divergence between NASDAQ price (going up) and NASDAQ New-High-Low (going down). You may watch the whole video recording here:

Today, Monday the 25th June, before Regular Market Open, I was looking at the Live chart of NASDAQ Futures (NQc1) and noticed that it had displayed the possible Reversal Signal (Bearish Headwind) on the Daily Chart.

Last few Bearish as well as the Bullish CUE Headwind Reversal Signals (marked on the chart by circled diamonds) helped protect profit and even take profitable contrarian trades. That same Headwind possible reversal signal has come again. This Headwind is yet another reason to be cautious. 

On top of that, NQ is dropping below Trendline Support (green color CUE Memory Support on the chart). Not a positive sign.

Time to be cautious on NASDAQ and the USA Market - would you not think so?

You might also be extra cautious on the Fundamentally Weak Tech Stocks that rocketed up in recent days. We had discussed possible "pumping and dumping" of these weak stocks at length in the last two Weekly Roundups.

NQ Headwiind.jpg 
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