


TazmanianTrader
PlusNASDAQ:NVDA following this topping pattern... spike out on monday would confirm short term top...
Well... after a careful analysis.... I have discovered that I was completely wrong about the market needing a pullback based on math..... all it needs is a cooldown...hence, perhaps a week of consolidation and then another push higher...
TIme frames of equal length suggest we are moving towards a local bottom on May 6th. Keep in mind we already hit our highs and pivot. I do not expect anything higher than $450 personally but looking at $441-$443 for just one last tag before heading lower.
As you can see here, I circled the last several times that the 10 period SMA Crossed the 50 period to the downside on the 4hour chart. On the last occasion that the 10 SMA crossed both the 50 and the 200 SMA, NASDAQ:PANW took an over 5% tumble . This one here seems to lead towards a 10% drop. I will be looking for the 4hour candle to retest the 10 SMA...