NQ Long term view

15 בפבר׳ 2022

0.236 fib has provided reasonable support so far. Bears have made two attempts but bulls have been able to clinch the control back. I don't think this will remain for long. The next time bears attack 14000, we will see NQ going all the way down to 12800 level. There will be some consolidation there for sometime...but eventually, NQ has to retrace all the way down to 0.618 fib. This chart is not for day trading...not even for swing trading...but to establish the dominant trade direction over next 18 to 24 months. There is no long term buy and hold until 0.618 retracement at least!