I wanted to take a moment to try to illustrate the diamond top pattern I’ve been tweeting about occasionally on the NQ. Here is the continuous futures contract on the /NQ with my embellishments on the chart:
Referring to this general article about such a top, you can see the clarity of the formation with a past example:
There are some who still consider buying the NASDAQ a great idea. In my opinion, it’s already had a very long, profitable run for the bulls, and the tide is turning. It just needs to break 6400.
