The NQ momentum looks to be slowing to the down side. I don't have a crystal ball so take it with a grain of salt. With the Money flow being really low on the 6h chart, the macd making a cross to the upside, I'm calling a long here or a lil lower after today's session to see where it lands. Small size maybe even micro. Stop is pretty obvious with prior low. If prior low breaks we go lower. If it holds we are bouncing. Double bottom here could be a bigger bounce. I know a lot of bears will try to claw me to pieces but it's oversold. Sure it can go lower so I'm looking for confirmation on the long before I take it. Would like to see some big 30min bull bars and some fast action to the upside to confirm it. Just watching to see what it does. If the low breaks I'm joining the bears to ride it as low as it wants to go. Thanks for reading just an idea. Let's see what happens. Happy trading and good luck.
the naz held up as expected...a little weak in my opinion but held above the level I posted it at barely. maybe big banks are building a long position...at any rate I'd say it has to go higher before it can go lower. anyway as expected it moved to the upside and closed almost near where it started...it could move higher in the globex we will see.