Sneaky new buyers today on NASDAQ $NQ futures

1055 cst

• watch for a rally to break higher into the range here,

• possible to 600 again on $NQ

• stop is 12290 with .5 total positional risk allocation; add 12375 if possible under the risk allocation

• 20 day peak already shown

• 10 day bottoming or bottomed (this trade needs it to have already bottomed, so no new overnight or NY open lows… significant transaction risk as this trade aims to capture a 5 and probable 10 day VTL cross to the upside very quickly, Experience has shown to get in as early as possible.

• 20 week FLD support below $NQ

• AAPL 0.00%↑ filled or is filling its daily bar gap

• If it fails, UVXY 0.00%↑ will move higher

• It will probably fail after a significant rise in prices tomorrow and possibly Thursday

• then it will fail

• The market has to test whether there is still significant buying here at 12500 before dumping below 12000 into next week

• The market will probably go into a deep selloff later in September

• the 40 day cycle should bottom next week… furthering the idea of using shorts but not today or tomorrow

• too many were short at the end of the day, and the overnight is pressing that. They will have to cover possibly causing a rally at the open of a significant strength very quickly. If it is seen, it should be followed for continued covering much higher

• alot of people will be surprised by a large 100 point up move on #SP500 futures

• good luck

Derek

*not financial advice

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