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Will We Hold It Wednesday – High Hopes at 5,440 (again)
Here we go again!
The Nasdaq has run up to our 5,440 shorting line (/NQ) but, sadly, none of the other indexes are following suit. Back on our March 16th PSW Report, the levels we laid out for shorting were:
- Dow Futures (/YM) at 2,100
- S&P Futures (/ES) at 2,390
- Nasdaq Futures (/NQ) at 5,440
- Russell Futures (/TF) at 1,390
In our live Member Chat Room, the week before (11th) I had laid out the shorting lines and expected bottoms for all of our Futures indexes with charts and graphs and I'll reprint them here as they are still aprropriate – even 3 weeks later:
2,380 to 2,340 is 1.7% and we expect 8-point bounce to 2,348 (check) and 2,356 and notice 2,356, not 55 is a good line to short again.
Have to call this 21,000 – even though we didn't make it and call the fall 420, even though it didn't and we have 20,580 with 85-point bounces to 20,666 (because who doesn't like Satan?) and 20,750 will…
Provided courtesy of Phil’s Stock World.
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Source: http://www.philstockworld.com/2017/04/05/will-we-hold-it-wednesday-high-hopes-at-5440-again/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link
