Judging from past oversold readings, those were excellent opportunities to get long the Nasdaq 100 and aim for new record highs. Getting ready to take long positions here shortly on the NQ contract. Profit target is above new all time record highs.
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Long NQZ20 @ 11210.00
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Out NQZ 11373.25.. Waiting until NQ can breakout over prior strong resistance of 11500.. Could still be some bearish omen out there.. Gut feel...
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Re-entering position with stop under Friday's low..
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Looking to add onto NQ longs upon a decisive breakout over 11600..
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Stopped in more NQ @ 11605. One tick above the late September high price..
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Looking good.. NDX looks pretty strong right now. Looking to TP on 50% should we fall back under 12k though.
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50% of our NQ position stopped just under 12000 and NDX is now pulling back as it should be doing after such as great run. Ideally, it should fall back to its previous resistance level of 11600 where we will look to re-enter the 50% that has been sold...
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Put 25% back on at 11750. Trading this more than usual due to upcoming election craziness. Its possible that once an outcome is known and if it leans towards Democrat party that the US market could potentially explode to the upside..