TElphee
Education

Nasdaq_Indexes_Look into todays action_Shorts considered only.

FOREXCOM:NSXUSD   US Tech 100 CFD
Occasionally I will be slapping together a commentary about the days action on my favorite index and making a point to pickout the best entry of the day. This does not mean I take these entries. I simply point them out.
These posts will be short simple and insightful.

Notice the daily is bearish . We know better than to hold onto long positions.

Over the weekend SPX             and DOWJ setup very nice looking sell signals. Market makers know all of us retail traders sat around and thought about how bad we wanted to get short all weekend. So first thing this morning they gave us our fills. NQ             pushed lower and stopped out tight long trades and entered silly short orders. Then the market made a substantial move higher only to stop out the retail short traders. Only to stall around lunchtime.

Markets ticked around until 2pm when we finally started showing bearish signals and my plan allowed my to trade with the direction of the daily.

Price broke the lunchtime level and then formed a perfect verification process to confirm we were about to move lower. The market took back all the days gains between 2 and 3:50. Notice the 5 minute chart in the comments below.Cant post the 5 min which truly shows the details of today's move.

What a day. Stay tuned!

If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Your data may be different. Material is educational only. Trade at your own risk!
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