Nasdaq just won't lie down, pulled up by Facebook gapping up every day so far this week. The first clue that the rally is running out of steam/exhaustion will be if FB doesn't gap up this morning.
But if it does bears will need to stand back and look to short from higher levels, potentially as high as 5479. More as this move develops
But if it does bears will need to stand back and look to short from higher levels, potentially as high as 5479. More as this move develops
Comment:
Well it's going OK but not great so far. Suggest lowering stop on shorts to 5450 so any potential loss is limied to 15 points maximum. Don't really want this going above 5447 now so stop can go just above here. But at least FB is struggling to move ahead so bears still have that on our side
Comment:
OK, lower stop again to 5447 so we lose 12 points max if it goes wrong, just above that little double top just been formed on 1 minute chart
Comment:
This index is being very frustrating so far today. Lower stops again to 5443 so lose 8 points if this goes tits up
