Last week NQ chose the path of history scenario3, when strength on
weekly bar exerted influence.
Possible scenarios:
1) Trendline Resistance for temporary short opportunity
2) 12442-12533: if price goes to this level on low volume, possible short
3) If market test lower levels 11745/11348 and finds support = long opportunity
Strategy for next week will be to long on retracement.
Weekly = Low vol up bar close at high = some weakness.
Daily = Ave vol up bar close at high = minor strength.
H4: High vol up bar close at high = strength
Price reaction levels:
Short on Test and Reject | Long on Test and Accept
12906 12442 12140 12082
11745 11348 11068 10359
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Have a profitable trading week ahead.
