Near Term Trend: Bullish
Fridays Close: 5,790.91 (- 0.09%)
UPDATE: Last week, I suggested shorting bounces to 5873 with stops on a close above 5875 and with a long-term target of 4910.
The NDX tested key daily closing support level at 5786.01 again on Friday before bouncing in the afternoon. It is barely holding up, though. Im skeptical of the bullish case here.
Id be willing to short a bounce to 5878.65 with stops on a close above 5885.3. If stopped, back to shorting at 6107. Downside target is 5585 ST.