NDX 4-hour chart: Bear Flag

The Nasdaq dropped hard, then drifted up in a quiet, narrow crawl.

October 20, on the Nasdaq, the 4-hour chart, this bear flag confirmed today.

In plain terms, a sharp drop formed the pole, then a shallow drift higher formed the flag.

The confirmation was a close below the lower rail at 29626.8.

The measured target is 29018.1.

The invalidation level is 29826.2, and a close beyond it cancels the pattern.

The setup is still open: neither the target nor the invalidation level has been hit.

A pattern never guarantees its target, and the same shape fails just as often.

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