Near Term Trend: Bullish
Fridays Close: 5,831.53 (+ 0.75%)
UPDATE: Last week, I suggested selling longs at 6000 and getting short at 6107 with a target of 4910.
The NDX came just shy of testing 6000 this week before the sharp selloff commenced. The chart to the left gives key support for the bulls at 5786. A close below that could lead to a cascade. Above that, the bulls still have some control.
Id be willing to short a bounce to 5873 with stops on a close above 5875. If stopped, back to shorting at 6107. Downside target is 4910.