NQ Found Support

This is the NQ at the 4 hour. NQ bounced from the middle of the current channel. In the middle indicator, I put a green line for RSI support. The middle of the channel was where RSI support was.

The cash flow was higher than the on-balance volume suggests. That means the end of day rally was a short covering rally by FOMO bears this morning.

Apple was Atlas with the NQ. It has a $1.67 trillion market cap. If Apple goes red, the rest of the indices tend to fall too due to sheer weight.

Tesla's market cap is bigger than most car companies combined. It's also a short target by eager bears.

As a result, bears were covering shorts and the NQ continues to stack bear bodies.

This is why my plan is to wait until NQ reaches major supports. Basically, profit off calculated bounces. NQ is not in my buy zone yet. If the VIX finds support soon, then the NQ may be in my buy zone.

Until then, I'll get paid to wait at major supports.