There is a disturbing correlation here with the difference between contracts. It seems like capitulation is nearing. Could it possibly bullish for markets when it turns down again? Looks like NQ2!-NQ1! is about to.
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closer look
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Note that the current position can be misleading until the candle closes on the line chart. In candle mode you see large wicks on both sides.
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but that sure looks like capitulation is coming
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Didn't take long to flip the other way! Curious where it lands after OPEX