Quick note – the higher time frame, the big boys, the institutions, have not taken action yet at the NASDAQ.
Instead the NASDAQ remains in balance. No victor can be declared until a decisive break away from the /NQ_F territory from about 4950 – 4920 is made:
Until then, the plan is to short sell from above value, ride the ripples back down to value and press for a break down and out of value carefully.
This is Auction Theory Trading 101 and I’m putting on a live seminar. That does not mean I will be “right” about the overall direction of this week’s market, only that I will engage the auction thoughtfully and with a penchant for risk management.
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