NQ1!,Change of Character, Potential Spring to Watch

A break of the uptrend channel and holding below it has confirmed a change of character. The market entered a distribution phase. Several days of action have established a balance area with distinct edges. The last trading session has created a potential spring (in Wyckoff terms). This is something to watch going forward. If this is the case it may lead to a retest of the balance top and eventual return back into the channel. If the last day low is taken out we may see a new leg down confirming a bear flag formation.
There is no need to predict what may happen but to listen what the market tells. The market always right...

02/27/2021