Today was a very ugly reversal to the downside

corky

 

NQ down it goes again during the Asian session.

Double happiness for those who shorted NQ during yesterday's US session and today's Asian session.

Always trade based on what the chart says

 

I’m not going to bother with the Dow or the S&P.

Nasdaq is the big kahuna. That’s where the big institutional order flow is. I’ve known that for many months now but I’ve resisted changing my charting and tickers.

 

Yeah, and "Quantum of Solace" is playing on Netflix...

 

right. NQ is the big kahuna.

Dow is the nano kahuna.
I don't even bother to display the YM chart.

 

Old habits die hard.

 

And the NAZ can rip either way fast.

 

Bought another $2k SQQQ TZA etc premkt

 

We could easily and decisively close beneath the 50 dma today on good volume. Im talking the Nasdaq but the other two indices could as well. As i said the other day, the markets are defying gravity and logic.

 

I find that markets react to the trend line more than the 50 dma. Just my opinion.