Yeah. Weakness in NQ is disconcerting, but my model gives low chances of a new low here, so going to play the odds. I added to my long position and have a stop below 3415. Offering 3440 to exit. Not going to be greedy today.
It seems like there's a general consensus that the election will produce huge volatility and even a sell-off. Particularly on a Biden win. What if it won't?
NQ looking like inverse Head & Shoulders Pattern. Given all of my other indicators, I'm expecting resolution to the upside.
For those who are new to ES - this was a typical day in a not too distant past. Just directionless and range bound movement on a very tight range. Not the easiest market to trade.
This is some type of loading the bus. Either NQ is going to rocket up here from short covering soon or ES is going to pull back at least to 3419.75. I am shorting NQ now @ 11538.50. if goes above 11553.00 ill exit. NQ still looks like garbage to me.
Is that not getting increasingly less likely by the day now? If anything, the markets know there will be some kind of stimulus package regardless of who wins.