NQ is pretty close to testing the upper boundary of the gap, closing it would break the up trend and probably drag ES with it. Either way a bounce should be expected.
-3 Never predict... beark of ES 1100 and NQ 1865 were ominous as I said earlier when I was objective.
Bottom of my channel is approximately 86.50. So if we will go up to app 85 trend will be broken. However it is time to go long but I will look to see some signs of recovery. There should be plenty of upside. If we will just continue "copulating" with bottom today (the bounce will be not clearly visible) I expect breakdown tomorrow and establish new trend. What bother me at most is that SPY broke out of the channel a bit (false breakout) and this is often the highest point for some time.
Summarize the day, which for me ends now.. Missed NQ short 1884 by 1/4 pt.. Thenk fished long 1878 for -1.5 loss. Shorted 1877 nicely.. took 1867 cover +10, ANTICIPATING support.. Long 1846 ANTICPITAPING support -3. Up for the day BUT man has to make his mind up and decide if he is a scalper or holds for the day.. Key in either role is to not look at how the other role could have been better on a given day as it will drive you bananas... OR scale in/out as a hybrid.
That last dive that stopped me out "feels" like the bottom today. Anybody watching volume.. had to be a spike there.