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WadeYendall

NAS Trying to roll over?

Micro E-mini Nasdaq-100 Index Futures (CME_MINI:MNQ1!)  
WadeYendall Updated   
CME_MINI:MNQ1!   Micro E-mini Nasdaq-100 Index Futures
Trend Analysis Fibonacci Chart Patterns
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trendanalysis fibonacci chartpattern
NAS is looking weak and sitting on key support. Selling pressure is increasing so corrective move is possible. Keeping stop on positions tight and stick to day trades only until this finds support.
Comment:
Although NAS had a nice bounce yesterday the selling pressure continued today. It may have to at least pull back to the 13500/13150 to resolve this. The news of higher taxes today aside .... market participants are looking for reasons to sell more than they are for reasons to buy. Today they found a reason to sell so they did. Keep positions small and quick.
Comment:
Really nice bounce this morning. Pushing up through the neutral to the 618. Getting above 13926 is key for trend follow though next week.
snapshot
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