NQ spending a lot of time in this 11500-11520 area. So they are loading the bus for a big move very soon. I am just not confident enough in either direction at the moment.
Potential for a nice short cover rally here once decently back above 11520.00 flirting with it now. Still don't see any good trade though.
Depends on what stop you're willing to use, but there should be a strong long bias from here. Stop @ 3345. Target 3390/3400. Right now we're at top of a range, so not the best entry unless we breakout higher.
Understood and agree. Seeing if this short cover rally can pick up some steam here and really push some shorts out.
It's starting to weaken here 11550, decent probability we get at least a little pullback soon. Going short will exit if get above 11557.75. Looking for 11542.75 to take some off.
Same stop on re,maining (11557.75) We need below 11542.75 and than to close below it as thats a bottom of distribution area. EDIT: 11530.25 may be all we get (if we even get that low) will take more off there.
Ah well to me that already happened, above 11520 was the short covering setup I saw / Posted and we ran up to 11557.75 so a 37 point move to me is a short cover rally. But now the short signal came in as I posted so I went short, got target 1 and now almost to 11530.25 which would clear all the means reversion levels so anything else is extra.