NQ continued to rotate. No trades from last week per scenario1. Weaknesses have manifested, so if you are holding long, may be a good time to take profit during this toppish structure.
Possible scenarios: 1) Market stuck in a 250pt range, wait till supply/demand is resolved Then: 2) Breakout of upper boundary to test 13740 = long at support of upper boundary of range 3) Breakdown of lower boundary of range = Short on rejection of 12950 4) If you can't live without trading, you may look for long on support between 12950-13040 | Short on rejection between 13350-13212
Volume Analysis: Daily: With the increase in supply volume and toppish market structure, this may usher in another round of distribution (i.e. selling)
Price reaction levels: Short on Test and Reject | Long on Test and Accept
14361 13740 13550 13316 12950 10710 - 11068
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