Thursday, March 16, 2017

Nasdaq (update)

We formed a doji candlestick today.  It could just be the market taking a breather, but it's placement on the chart has me thinking possible top.  First, it's taking place in my resistance zone @ the 361/461 Fib combo.  Second, the RSI shows bullish divergence.  Third, the doji formed @ the monthly R1 pivot.  And finally, we already have a bearish MACD crossover.  I would definitely start thinking of putting on some small bearish positions.  At the very least, if long, I would be thinking of taking profits up here.


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