- pre-market futures in the green...
- the 1688 pivot on the NQZ09 which formed from 9/11-9/15 is acting as support...friday's midday dip held at 1689...
- today could be a potential reversal day in the NQ...i will be watching for another series of higher highs and higher lows, with the first important pivot coming at friday afternoon's high of 1701.75...if the NQ can trade above this level, and pre-market futures are suggesting it will, and then not dip below friday's late afternoon low of 1691.75, then NQ will have its second set of higher highs and higher lows since friday's midday breakdown...
- the next important pivot i will be watching is the 1711.75 high from late thursday afternoon...trading above this level will increase my confidence that friday may have been the swing low of this move...
- i am still long 3 NQZ09 at average price of 1714.08 on a discretionary basis....i am currently offering out 1 contract at each of the following levels: 1726.50, 1736.50 and 1746.50...
- i am not bidding for any more NQ at this time...once i let go of some inventory, i will probably start bidding again...
***remember this is an illustration of what i am trading and my thinking...my trading plan may change without notice...this is not a recommendation for you or anyone else, to buy or sell this or any other security...trade at your own risk***
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