It is like a high noon showdown for next two days, If you still long look on 15 min chart for start of topping formation. Trendline was touched but not broken so we should be ok pending tomorrow and Thursday 12:10-12:40 est window.
Bottom came around 1:30est so for tomorrow I expect same delay for Thursday. I would get out of long on Friday if there is a top formed early and 5 day indicators are diverging. Trendlines are still holdig up ,I feel it is a time to slowly get out of long positions.
Next intraday cycle for Naz100 will be completed tomorrow around 13;15 est. I have received couple of emails like " what the... we should do with it to trade it ? Well, at the time posted you look for the closest significant point( high or low ) and draw horizontal trendline and when prize comesto it, you trade it. Look at past posted times and draw trendlines so you can see how accurate cycle analysis can be.
If you drew trendline based on yesterday post you would get very nice bounce of it . Try to do the same tomorrow around 14:15est. Find close top or bottom which is within 15 min away , draw trendline and you will see trading opportunity when price come close to trendline you drew. I recommend Prophet.net charts basic service is free and has all you need .
Intraday cycle will be completed around 11:30 est . NAZ 100 still has a room to go up , top is about 20 point higher. Do not forget end of the year rallies are here .
Monday around10:30 est will mark another cycle completion in NAZ 100. I think that selloff will start around 1640 on Tuesday 11-8 past 13:00est. If there is no top formed by 15:00 est, I would exit on close. I just smell gap down from that area. Do not forget to draw trendlines from posted points. You will need them later.
Those of you who drew trendline from 10:30est level got almost exact morning low ( day is not over yet ). Tomorrow , Wed, there will be a junction of several short term cycles around 13:20est . It looks like that really important price level will be established there .
It happened right on time . This might be future support where short positions will be established. Today you should pay attention around 11:00 and14:45est I am still waiting for a gap down open this week.
Well, instead of a gap down opening we got quick decline and then nice runup. Watch the action around 11;15 and 11:50est.