I was wrong in the direction yesterday. DAX did rally from opening to my target, it hit higher resistance before faltering. I said NDX had a strong resistance and it held completely.
Interestingly, DJIA held the selling and see the recovery in DAX towards the half way but NDX is weak. Price action is neutral to bearish and price opened within the BZ. I would say can play both sides today.
Market would need to retest the lows before any recovery IMO. So IMO, I will look at 16823 for a possible short to re-test 16677. 16645 is the next support for a possible long for a near term low. Overall, I am still neutral of the whole move (from bullish)
Interestingly, DJIA held the selling and see the recovery in DAX towards the half way but NDX is weak. Price action is neutral to bearish and price opened within the BZ. I would say can play both sides today.
Market would need to retest the lows before any recovery IMO. So IMO, I will look at 16823 for a possible short to re-test 16677. 16645 is the next support for a possible long for a near term low. Overall, I am still neutral of the whole move (from bullish)
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.