Explanation on NASDAQ

The day chart of NASDAQ today is showing a downward flag correction pattern, the same as its chart from Jan 3rd to yesterday. Ignoring the first half hour no direction time, the next one hour was a straight down time, which formed the flag rod (similar to the first three weeks of Jan). And the next 2 and half hours was a slightly upward range move, like an open flag (similar to the late Jan to 3/15 move). The upward move ended by a break down of the flag range at around 4 hours after opening. That breaking down means the ending of the flag correction and the starting of a downtrend with a height of the rod, from the top of flag range.

Let’s do a calculation of NASDAQ short term move:
Rod height: 2200 – 2020 = 180
Top of flag range: 2100
Target: 2100 – 180 = 1920.

Now you can figure out how far deep NASDAQ will go today. Enjoy!

Important: Rod must be formed by an almost straight down move, cannot be a range move tunnel.