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Could NASDAQ Futures Be In For A Drop?

By Tim KnightStock MarketsApr 07, 2021 10:57AM ET
www.investing.com/analysis/could-nasdaq-futures-be-in-for-a-drop-200571744
Could NASDAQ Futures Be In For A Drop?
By Tim Knight   |  Apr 07, 2021 10:57AM ET
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When I was a little kid, I remember watching the film “Powers of Ten” as the Air & Space Museum with rapt attention. In that spirit, let’s take a look at what’s going on with the NASDAQ Futures.

The one-minute chart shows we’ve had a nice little tumble in the wee hours of this morning. As I’m typing this, we’re down about 30 points, which isn’t even a quarter of a percent.

NASDAQ Futures 1-Minute Chart.
NASDAQ Futures 1-Minute Chart.

The five-minute chart is a bit more interesting. There’s a topping pattern with support at 13,520 (which I’ve subtly put with a tiny footnote below). If we break that, we’ve got about a 135-point decline potential in front of us.

NASDAQ Futures 5-Minute Chart.
NASDAQ Futures 5-Minute Chart.

On top of that, that would break this uptrend on the 15-minute chart.

NASDAQ Futures 15-Minute Chart.
NASDAQ Futures 15-Minute Chart.

Here’s the thing, though: the diamond pattern I was following with such excitement was pretty much wrecked at this inflection point of the 1-hour chart.

NASDAQ Futures 1-Hour Chart.
NASDAQ Futures 1-Hour Chart.

Thus, on the 4-hour chart, you can see our deceased diamond pattern, now that prices have reached escape velocity.

NASDAQ Futures 4-Hour Chart.
NASDAQ Futures 4-Hour Chart.

My conclusion from all this? We’re probably on the road to a wee bit of excitement with maybe a 1% drop, but the bigger picture is still a big fat mess. On the one hand you’ve got trillions of dollars of fake new money pouring down everyone’s throats. On the other hand, you’ve got facts and hard reality. So far the money and the throats have been winning the day, and that’s been the case for 13 years now.

Could NASDAQ Futures Be In For A Drop?
 

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Could NASDAQ Futures Be In For A Drop?

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Comments (3)
Siamak Jowkar
Siamak Jowkar Apr 08, 2021 9:06AM ET
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👍Yes, It really is
Jeff Strongman
Jeff Strongman Apr 07, 2021 5:02PM ET
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Two days ago april was set to be a big month...🤡
John Raymond
John Raymond Apr 07, 2021 4:26PM ET
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good take but day trading and short term swing trading of big tech still massively out performing
 
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