nq. little bearish after long weekend.
nasdaq is showing a lot of weakness in the price action it gave us over the weekend. Not sure if markets will use this as a fatal flaw to take it lower or will see it as like "who really cares because it was a stock market holiday and there was low volume.
So far price is responding to some areas of previous buyer activity, but the following move is not taking price far higher, and the bigger impulsions are to the downside.
It is now peak trading hours, which means the market can turn on a dime if it really wants to. NY open is a very volatile period, making it easy to score some big points in 5-10 minutes, also making it easier to have your stop loss triggered in the volatility.
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I marked it as short because I am in a short position at the moment. (sim account, I don't like going live first day back.) By the time this post reaches you markets may be looking differently. I'm practically clairvoyant on sim though. No loss avoidance entering the equation makes the markets seem pretty friendly, easier to trade.
So far price is responding to some areas of previous buyer activity, but the following move is not taking price far higher, and the bigger impulsions are to the downside.
It is now peak trading hours, which means the market can turn on a dime if it really wants to. NY open is a very volatile period, making it easy to score some big points in 5-10 minutes, also making it easier to have your stop loss triggered in the volatility.
-----
I marked it as short because I am in a short position at the moment. (sim account, I don't like going live first day back.) By the time this post reaches you markets may be looking differently. I'm practically clairvoyant on sim though. No loss avoidance entering the equation makes the markets seem pretty friendly, easier to trade.
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