Friday was complicated. So, I am going to break it down. Nasdaq 100 Futures (NQ) traded to the 9837 level, 32.75 points short of it's 50% HWB short. It then proceeded to sell off like nobody's business to 9846.50, 31.5 points higher than the projected objective for the HWB short. So, if you followed me on the channel, we were positioned for a nice rally at the end of the day. Markets have no memory on Friday afternoon. So, I think we are going up eventually and rally hard.

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We are currently in a micro long and and intermediate short. We could sell off initially to the 9853.50 level and I would be a buyer, so long as we stayed above 9561.So, Bullish Above 9561. If we broke the intermediate short at 9703.00, I would be doubly long even more bullish . . . all the way up to 9870 . . . at which points, I will take profits and look to reverse. The issue with NQ is that it's know to break 61.8% lines and to evengo as far as 78.6% line. . . . I would actually really like to sell a full short position between the 61.8-78.6 percent line; but we may not get there. The market sold the 38% line on Friday, meaning that when we get back there, there will be short covering juice to take us into the 50%-61.8% area.

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Sell off to 9583 . . for some reason, I'm dyslexic today.

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9486 . . . sorry, was the sell off point.

@mb i shorted es on Friday afternoon. Had a lack of service and was looking for entry around 3025 on the pullback. I guess I should have kept that order in instead of shorting much lower. I guess I am holding this short over the weekend with a subpar entry. I switched to the sept contracts they are trading a bit lower and had a lot of volume, not sure if you switched to u or are still in m.

Just posted my ES viewpoint. Take a look.

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