Hello from CFT (our new video is out!),
Same triangle we have been showing for weeks. We think possibly what’s gone on here, we have had a lot of sideways, maybe move that “X” wave up there for an “X” wave triangle. Still looking for higher, indicators were friendly, still leaning on friendly, but we need to get a rally going.
If $34,300 down here, if this low gets taken out, then we could see further downside for a few weeks. So, watch that level for bullish invalidation.
On the Nasdaq QQQ,
We’ve been looking for the wave 4 to have ended. We still could come down here maybe and spring this low, but we think most of the correction is over; we will turn higher from here.
We’re looking to be short; Russia news has kept a firm bid on the Dollar, we’re still looking for a place to be short.
Had a little buying climax last week, automatic reaction; we think a little sideways here before higher.