As the old saying goes, “tops are a process, bottoms are an event”. And that may well be what we’re witnessing on equity markets at present if the new Covid variant really does ruin Christmas. Even before Covid hit the headline again we saw a few key reversal days and lower highs which traders bought, only they failed to take prices to new highs. Only now the downside appears to be accelerating, so we’ll be keeping a close eye on how price action unfolds. In today’s video we look at the Nasdaq 100 futures chart to identify a bearish reversal pattern and intraday levels, then finish on the Nasdaq 100 stock market chart.
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