Market at crossroads.... No trade today
5 min Emini Nasdaq 100
Hi,
How is it going lately? Price gapped down today and immediately covered it via long whiskers. ( the body of the candlesticks did not cover the gap) . This illustrates weakness in the price structure...
Next, you can see that candlestick bodies are short, and they remain below the moving averages...
Although we get a double bottom pattern in the second half of the trading day, the fact that price remains below the moving averages prevents us from making aggressive bets. No trade today.