It is very clear on the 4-hour chart of the Nasdaq 100 index, the deviation between the price movement of the #NDX index and the Awesome Oscillator indicator and supported by its price movement below the MA 50, indicating that #NDX is in a weakening condition even though there is potential to retrace to strengthen again to fill the liquidity gap caused by a fairly massive downward movement where the level of 21597.9 has the potential to be tested, but as long as it does not break through and close above the level of 21987.8 #NDX is still in a weakening condition and will test the level of 21007.5 if it is successfully broken and closes below it, then #NDX will have the potential to continue its weakening back to the level of 20713.8 and if the momentum and volatility support it, then 20405.7 will be the next target.
(Disclaimer)