That crescent shaped selloff on the NDX is a classic climactic selloff signature. In percentage terms that was no climax, but nevertheless the signature has the characteristics of a climax.
As i noted yesterday, my ES target of 1492 was hit today morning. What is more significant here is that, while ES took out the 6/8 lows, NQ is still holding above it. If i were a bear here and if i see a doji on the hourly candle, without NQ taking out 6/8 lows, then i would be scared - very scared !.
If NQ takes out the 6/8 lows and ES breaks below the 1490-92 support, then a much deeper selloff should be expected. Otherwise, we should make an important low today !
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