Yeah, since yesterday it felt like someone had an early peek at INTC numbers. I think this afternoon or tomorrow morning will be the near term top on NQ depending on how the intc call goes.
Agreed. I am going to try to hold this and other short positions for a while. Could be painful but I agree with you that there could be a top around these levels.
"As noted Monday night aggressive market gains (wide-range-bars like Monday) are often followed by more consolidative sessions but this type of action does not impact the underlying market bias. Above consensus numbers from INTC has sparked a broad based rally led by tech in after hours trade. The next resistances of interest for the S&P are at 912/913 (50 day sma/congestion) and 915 (channel off the June highs)."
Quote from mTrader09: sell short NQU9 market (1472.25) Disaster overnight stop @ 1492.75 ------------------------------------------- Lower stop to 1474.25 Not risking more than 2 points overnight - will reshort tomorrow if stopped out.