Tremendous week all in all… time to turn it off and reboot … time for a massage and lunch … Sell Zone just above … good trading All!
Man epic battle here on NQ. Really not sure if we're going to rocket or drop. Have an area around 14075 ish NQ if we lose 14178 ish. Have a distribution area 14202-14250 ish on NQ. Been trading in this area for a long time, but has been trading above it quite a bit too, so can't really decipher. Looks like they are absorbing buyers. But if start trading above 14260ish too much not going to fight it. As could be brutal short squeeze as it's Friday and getting close to EOD.
Hey Spooz, quick question. You mentioned this sell zone, which I can see about 4422 since this was the previous day high, but since you were using the trendline that goes back to Jan 13, I thought you would be looking out for 4380 more so first. Is this the trendline you have been referencing in your posts?
Dude almost got out of trade, since we did trade a little above, but stuck with it, since it looked like distribution to me although wasn't sure. Distribution zone worked again and now we're trading below the 14178 overbought, so we're at risk for the 14075 now. I covered my MNQ for almost 100 point, just have small QQQ position as runner now.
I’m considering going long over the weekend for a multi day swing but this Pa still looks mighty weak.