NQ | JANUARY 25, 2023
11850 and 11735. That's all I care about today. Admittedly, don't really want to short based off the overnight move and favor waiting for the bid to attempt longs.
848 was yesterday's bid. 735 was Monday's bid. Will sellers keep distribution trapped above 850? Will 735 stay bid?
For now, my expectation is to lean short against the 858-872 area and observe the reaction or lack thereof at 735-693.
If 735 is going to hold up NQ, I want to see 712 and 693 support Monday's bid. Beneath 680 last week's sellers may wake up and if so, I expect the market to move toward 540-585 where I expect to find a bid back into 647-722.
Trade ideas:
+ Long 693-704
+ Long 570
+ Long 498
- Short 793 / 826-832
- Short 858-872
- Short 898-914
848 was yesterday's bid. 735 was Monday's bid. Will sellers keep distribution trapped above 850? Will 735 stay bid?
For now, my expectation is to lean short against the 858-872 area and observe the reaction or lack thereof at 735-693.
If 735 is going to hold up NQ, I want to see 712 and 693 support Monday's bid. Beneath 680 last week's sellers may wake up and if so, I expect the market to move toward 540-585 where I expect to find a bid back into 647-722.
Trade ideas:
+ Long 693-704
+ Long 570
+ Long 498
- Short 793 / 826-832
- Short 858-872
- Short 898-914
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