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$QQQ Short-Term DeMARK Update
Nasdaq 100 Flash Update
Non-demark downside trend still remains somewhat intact, but some the market is reacting to oversold levels on Friday and rallied in Europe overnight. Still below multiple anchored VWAPS from swing highs which means buyers are the ones under pressure. Nevertheless, the market is in the middle of a year long range now. Best not to get too excited about anything, one way or the other.
Here is my interpretation of the short-term DeMARK charts on the Nasdaq cash index (using QQQ as the proxy): the market has qualified downside TDST breaks last week which means we should wait for a 13 buy countdown to complete. We also just failed the TD Propulsion upside, which indicates a lack of buying pressure.
Some charts I’m trading below off this failure: