According to the weighted average envelope, yes. the 4 hr chart looks like it has retraced to a trend extension of fib and the central weighting of volume and averages that it is selling off from this squeeze. the nasdaq daily candle has a wick suggesting the intraday has been used for profit taking, and a continuation of the weekly downtrend could be likely, even if we have 3 bullish weeks in a row including this one.
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ive drawn a volume box around this trend, and ive taken all the volume averages of the price and weighted them to that move
im looking at these levels with a rsi/supertrend and trama strategy that takes the averages and weights them to that move
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gap has closed, market is overselling and we should bounce to the trend nav
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what do these divergences tell us about inflection in added risk environment?
the trend overall is down, but the intermediate technicals are supressed yo the upside
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nasdaq has bounced, and is setting a lower high
should resume selling towards close
should resume selling towards close
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nasdaq could close gap, and remain diverged
would remain sell along these lines according to long algo
