Brent close to 95 again. NQ futures marginally touched Jan 24 lows. Will this be a case of a "Jump the Creek" gap down for equities?
Posted 21 February 2022 - 04:50 PM
Brent close to 95 again. NQ futures marginally touched Jan 24 lows. Will this be a case of a "Jump the Creek" gap down for equities?
Posted 21 February 2022 - 06:29 PM
NQ futures have broken below Jan 24 lows and were down as low as 13,580. I see two scenarios:
1. (More likely IMHO): NQ futures continue selling down this evening and tomorrow morning to the 13,250-13,350 levels (could be as low as 13,000) which will mark the end of this down leg, and will be followed by a grinding up move back over late Feb, March and April to 14,700-15,100 levels.
2. (less likely IMHO): Sharp bounce either right at the Tuesday open or on Wednesday morning to fill the gap and go slightly higher, to say 14,400 at most. Then a big whoosh downward that will take NDX down to 12,000 or lower.
Posted 21 February 2022 - 08:01 PM
i think the sp has a chance to make it down to 4000 before this selling is over fwiw . we will see