NASDAQ breaks out of down channel: Setup for fall or double top?

15 Eyl 2020

NASDAQ established a down channel but broke out last night into what looks like a descending triangle (DT). If it is a DT, then that is a bearish sign and it could be a setup for a Wave C of a Zig zag down to the Feb support line. Otherwise, it could be consolidating and ready to break up to the resistance line for a double top.

15 Eyl 2020

Not