So. It's 90m until the opening bell. Does anyone have any idea where the immediate downside goal for the NQ is? The ES? Do you know where to look?
Made, if you are trying to apply the SLA, give a new read to how to draw lines as I see you are overdrawing them. They are supposed to show you what the trend is, if there is no trend then there should be no line.
I'm not sure if its the immediate downside target but on the daily the mean of the green channel is around 3425.
Since we have dropped to below the March '14 channel and the overnight action is showing more downtrend, the next level would be taken from the June 2013 channel that you posted last week. I am reposting your image as I have issues with going so far back in my charting. It appears as if the mean (not in the picture) falls to about 3410 or 3420 in this image. This would be the next area to look for if the drop continues.
For those who are unsure about the probabilities of one direction over another, I suggest reviewing the stock charts I posted yesterday. This is part of prep as well.