NQ is more than 250 points above yesterday's high and more importantly it is above the 8/22 high. 20,622 would be the low of 7/16, which would be a "gap fill" if just taking into account RTH data. 21074 the reigning all time high. I'm sure many of our brave day trading comrades will be playing contrarian and trying to pick the top today. But the top isn't going to be here for several years, I feel. Nasdaq 100 has a date with 30K before the USA decides whether or not to re-elect President Harris in 2028. I am not being political. I agree with the @vanzandt hypothesis that if the market continues higher through election day, it is telegraphing a Harris win. When in doubt, get long. BTFD.
Or, oil prices normalize below $70 per barrel because the USA is now producing more domestic oil than any other country on earth and we now have better control of the commodity's pricing since we now have greater control over the physical supply. United States produces more crude oil than any country, ever - U.S. Energy Information Administration (EIA)
I like to BTFD after it stops dipping. Looking for NQ to pullback to 20,400 plus or minus maybe 20 points.
I'm short here. Looking to reverse long if the 5800/05 area holds. If momentum picks up - we can fill yesterday's gap. But looking for some support in that area primarily.