If the daily chart was the 1 min chart, I'd be initiating a short scalp right about where we are at right now. Absent some "shock news", I really dont see how this could retest 3450 in the next few days. In addition, I think a test of 3350 will be snapped back. We will see
This is first day in the last 2 weeks that technically things have changed enough to where I don't have an overwhelming bias to the downside. Daily chart is in a pre-buy signal setup. So, while it hasn't actually triggered a buy, often times we still get a lift in the markets even if it doesn't turn into a buy signal. So, no strong bias for me. Just going to look for good setups I recognize.
This is tough. NQ won't break down. I am short just a small position for a swing so hoping it does. 11511.00 and 11455 both area's I'd like to see. Don't really have a stop yet, as may add more or cut some depending on how it looks. If we take out NQ 11578.00 I'll likely take a loss on whatever I am still holding, as still cautious of market being in pre-buy signal. Well there's a little bit more of move down on NQ, but still not tons.
Covered 11512.25. Good chance we see 11455, but smaller chart can potentially bounce it here some. So just got flat and took my profit. If it goes down I'll miss out on rest. If it pops will look to re-short.
Here's the pop from smaller chart, didn't take it. 11521.25 is simple resistance, maybe good for scalp short but I am waiting for 11528-11538 to re-short if we get there as it's a likely distribution zone on NQ.
11528-11538.00 zone very important now. If we can start to trade above it, can get another leg up. I am not building a swing short here, don't like it. Just took a scalp at 28 and @38 but didn't have time to post the short from 38.