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[/et_pb_text][et_pb_text _builder_version=”4.12.0″ _module_preset=”default” global_colors_info=”{}”]All right, good day, folks. Today we’re gonna take a look at the markets here look looking at the NASDAQ index here. And you can see that we are obviously recovering a bit today currently up one and a half percent, but well off of the highs of the day now global markets were sent into a tailspin on Friday from the emergence of the OMA chronic COVID variant. Now we’re seeing a little bit of a recovery here in Monday’s markets, but still a lot of ground to gain considering the losses there on Black Friday. Looking here at the NASDAQ, we have short term sell signals occurring based off of a couple of our indicators here, one being the 123 top the other being divergence. So divergence is something that I like to use, not so much as a standalone, but more as a confirmation for any other analysis that I may be doing. And one thing that I like to use that is very important, is simple trendline analysis. So when we get this set the sell signals like we see down here, this bearish sell divergence signal that puts us on alert that we could be at a near term top in the market. Obviously vice versa, if we had a buy signal, so the last sell signal we had on and you can see what happened is that basically was the top that that bearish sell signal came in right here. And the light European session saw this huge reversal bar followed, then we had the trend line break, small retest, and then we ended up trading to the downside. Now last sell signal we had was back here on the fifth. This is actually on the last sell signal of four hour. And again, we have a break of the shorter term trend lines here, break of the shorter term trend lines, we get that break we come back and retest the bearish momentum indicators pointing to the downside where you can see I did just that now on the daily chart, we’ve had many signals. Last one we had was the sell signal basically called this near term top here in early September traded to the downside did not pick up a bullish buy signal for the move back up. That was on that that happened around early October. So although we did get this bullish crossover of our momentum lines here, picking us back up. So basically, I just want to bring to your attention that we still are we’re a little bit mixed right now coming off of Friday’s pressure, bouncing back up pulling a little bit back off those highs right now, even though we are approaching a bullish time of the year, we are putting in a head and shoulders top right here which which suggests more downside action indicators are still pointing lower. So I would say as long as we remain under these highs appeared to the 16 570 area right here. I think trading could be a bit mixed. Or we could see additional downside pressure in the markets. But the good thing is we don’t try to predict or guess we let the price action determine our next moves. And we’ll look to play the short side and long side as we do with all of our markets[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
