This chart applies to Nasdaq Composite, Nasdaq 100, QQQ Ever since the bounce happened on 16 Oct, we had a huge run with 4 gaps. Though i may be wrong, i consider the green region an exhaustion gap. It can be treated as a top island reversal if one of these day, price gap down and hit 100.19, many textbook short would have been triggered.
Well, the market maker knew how we think in term of trading psychology.
Hence, i would tend to be ready for another upsurge either to see a shooting star or dark cloud cover. And the shorts i am likely to queue would be 102.5 & 103 which defy the fact that bull is going to continue charging higher