NQ1!, A Shallow Pullback in Progress

The market is reacting to a round number 15k. It is heading to retest the previous consolidation area which is a confluence with 20 DMA. There is no panic sell yet, a methodical correction. I expect the price to remain in the outlined range. The mega tech earnings are coming at the end of the month.

An acceleration to the downside may happen if the structural damage occurs below 23.6% Fib.

07/17/2021