11/11/2020 #NDX looking for further downside
#NDX continues to be weak. Consolidation yesterday.
Downside risk still exist. Price is now at my orange zone where we can sell from here, but I also factor in a possible deeper pullback to 11672-84 or even 11714-28. These levels aren't far away.
You can actually scale in along the way up, if that's your trading style, or watch for reactions off the zones.
Downside levels are 11500, 11440-11460 (strong support zone), 11290, 11330 and 11158. If big selloff, 11074 should offer low risk buy level.
Above my blue zone, look for 11856 and 11920 for reaction. Not expecting price above that. If 12080 trades today, selling shall be good
Downside risk still exist. Price is now at my orange zone where we can sell from here, but I also factor in a possible deeper pullback to 11672-84 or even 11714-28. These levels aren't far away.
You can actually scale in along the way up, if that's your trading style, or watch for reactions off the zones.
Downside levels are 11500, 11440-11460 (strong support zone), 11290, 11330 and 11158. If big selloff, 11074 should offer low risk buy level.
Above my blue zone, look for 11856 and 11920 for reaction. Not expecting price above that. If 12080 trades today, selling shall be good
Comment:
Slight typo in the comment for the blue zone. Should read 11714-28
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