NQ Oversold near-term; Bearish Pattern Emerging E-MINI NASDAQ-100 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:NQ1! DaddySawbucks The Ellipse, or Lens, is either a consolidation pattern or topping formation. Gap we saw Thursday 29 Apr likely an Exhaustion gap. Higher prices seem unlikely given weakness overall but MFI oversold, RSI resting at support level ; a brief bounce seems likely. Longer-term, expect correction to support at former price resistance. Not investing advice; trade at your own risk, GLTA!!