NQ1!, Market is in the Breakout Mode

The 7940, a monthly point of control, rejection right from the getgo set the tone for today's day session. A trending up price action and momentum broke the recent balance to upside. Market is in uncharted territory making new highs. This is happened ahead of the big techs earnings and GDP report later this week. What we need to see that this breakout sticks. Shorting is risky at this point unless the news driven moves start invalidating the breakout. Usually, the strong bullish sentiment would continue to stay for several days and aggressive buying would occur at every minor pullback.

Stay nimble.

07/24/2019