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On Friday we saw some nice follow through on a few of the recent trade set ups, but Let's start by discussing the markets after the Fed decision on Wednesday.
Read MoreJust a quick report this morning, because today is Friday and it is the last trading day of the week.
NASDAQ - Yesterday I was watching this slight push higher after the sell off, just in case it was a bear flag. The 50sma would be watched for support or failure.
QQQ- About an hour before the markets closed, I posted this chart in the comments / Chat section and pointed out that this actually could be finding support with a reversal at that 50sma. A set up like this can be bought with a stop right below support. TQQQ looks just like this too.
Read MoreThis is yet another very large report, designed to help you to see the many things taking place in various sectors.
Recently using the QQQ I pointed out that prior drop into ICLs did reach the 50sma
NASDAQ - The Nasdaq didn't drop that much after the Fed announcement, but it is possible that it will seek out an ICL now, since we are late in the intermediate cycle length. That would mean that we are currently seeing a Bear Flag.
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