Hello guys here are the levels for trading on Friday. Thursday was a very difficult day to trade, there was a lot of indecision in the market, i guess most people are taking advantage of the summertime out there. We had a couple of trades, we were stopped out at BE in all of them. Moving forward, there was a little bit of a selloff at the end of the day, let's see if that continues tomorrow. As we mentioned in one of our post 7500 was key, and today the market tried to take that level, but bears were right there to take to the downside, this could lead to some nice opportunities for the bulls to take it to new highs.
Please keep in mind that these are not trading signals, use your own analysis before taking any trades.
Thankn you for your input. Always nice to read. But as commented in @Astatine's "NQ - view for next few days", I rather believe we see a new low around 7400 if not even lower (towards your lower trendline around 7300 or below). The underlying index is close to break the 50 MA on the daily today. So, strong bears in the market and thin volume would easily lead to lower levels I think. The only thing to remark too is the gap to yesterdays close, which will get closed at some point (either immediately today or in the next few days, or in some weeks).
But we'll see. As long as we are not going above 7440 on NQ today, I think the lower is more likely then a new high - either today or next week.