Inverted H&S can be better spotted on the RSI or smaller time frames.
If you look at the RSI on the weekly you'll see that it found horizontal support .
Daily Macd - Golden cross
OBV - bullish
Semiconductor and Cloud sector really led the way in this rally.
So where do we go from here?
Well if the Inverted pattern goes as planned we'll be headed back to 380.
I'd like to see us reclaim that 370$ or 50ma for more conviction. The most important indicator to watch is the 10yr, would love to see it under 1.5
Retail sales come out tomorrow . This report usually weighs the heaviest on the Nasdaq. If there's any negative pull back we have fib support at 362.72 and Ema21 at 363.
Unless those yields go up and we fall below 362 I'd take any pullback as a dip buying opportunity.
Tech earnings kick off next week
If you look at the RSI on the weekly you'll see that it found horizontal support .
Daily Macd - Golden cross
OBV - bullish
Semiconductor and Cloud sector really led the way in this rally.
So where do we go from here?
Well if the Inverted pattern goes as planned we'll be headed back to 380.
I'd like to see us reclaim that 370$ or 50ma for more conviction. The most important indicator to watch is the 10yr, would love to see it under 1.5
Retail sales come out tomorrow . This report usually weighs the heaviest on the Nasdaq. If there's any negative pull back we have fib support at 362.72 and Ema21 at 363.
Unless those yields go up and we fall below 362 I'd take any pullback as a dip buying opportunity.
Tech earnings kick off next week
