Levels for NDX worked very well yesterday especially the OP and PZ. We saw multiple possible trades at these 2 levels (lots of opportunities), we got the break of OP, sell to PZ, re-test of OP before the final flush, and the levels work exactly, good for 300 points. 18139 was my price target for yesterday while market closed at around 18221.
Price action is bearish for yesterday and though trend is up, I am looking for some further downside continuation (as an overextension of price). About the 18139 level which would be the level I look for an up move; IMO if market pulled back to the PZ before selling down to 18139, I am more inclined to look for the break of WPP for further downside. But if market just drift down here to the 18139 without the pullback, expect some bigger bounce IMO, possibly to 18245 or even 18305, but IMO, I would look more for a bearish close for today.
Still, do note overall trend is up, I would be nimble on shorts. 18035; if we get a daily close below that level, then we could expect further downside IMO.
Price action is bearish for yesterday and though trend is up, I am looking for some further downside continuation (as an overextension of price). About the 18139 level which would be the level I look for an up move; IMO if market pulled back to the PZ before selling down to 18139, I am more inclined to look for the break of WPP for further downside. But if market just drift down here to the 18139 without the pullback, expect some bigger bounce IMO, possibly to 18245 or even 18305, but IMO, I would look more for a bearish close for today.
Still, do note overall trend is up, I would be nimble on shorts. 18035; if we get a daily close below that level, then we could expect further downside IMO.
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