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How We Plan to Sell an NQ Rally

Last week’s 4.7% decline in the Nasdaq 100 (NQ) futures market brought the index right back down to its June lows.

The market is clearly still stuck in a down trend, but this is an area where support could be found.

And if we do see a rally in the NQ from here, we’ll be looking for a high price to sell the market.

Read on to see how the market is setting up for the next short idea…

NQ Hits the Fibonacci

Here’s how the chart is shaping up…

Daily NQ Futures Contract (NQ) Price – Source: TradingView

The NQ daily time frame is in a down channel. The market is making lower lows and lower highs.

The market has hit a down Fibonacci extension price point 11,571.00 but has yet to form a low price.

It will be a good idea to stay out of the market until it pulls back and forms and high price, giving the opportunity to look for the next short.

At this time, it is better to be out of the market wishing to be in than to be in the market wishing to be out.

Don’t Miss Ross and Anthony’s Special Event: “The Apex Fortunes Summit”

Before I sign off… I have a confession to make:

As a trader I’ve seen a lot of different strategies…

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In fact, just to give you an inside perspective…

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That’s definitely a risk I wouldn’t take. 

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All you have to do is click here now to RSVP and secure your seat for “The Apex Fortunes Summit”. 

If you have more questions or comments, please send them to support@tradersagency.com.

Keep on trading,

P.S. My colleague and expert trader Anthony Speciale is preparing to unveil his “Apex System” and his #1 bear market stock he believes could skyrocket 12x higher in the next year.

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The post How We Plan to Sell an NQ Rally appeared first on Josh Daily Direction.

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