Currently: Cash Looking to: Short at 7,628
As of 8/16/2019 close: 7,611.25
LAST WEEK: We suggested shorting at 7,797.50 with stops on a close above 7,900 and with a target of 6,333.25.
UPDATE: NASDAQ 100 futures have pulled back pretty sharply over the last couple of weeks creating red and yellow banners at the bottom of the screen of every financial television channel in the process. The monthly chart to the right shows us that the downside thus far is but a blip on the screen in the big picture. The first Fibonacci-generated downside target comes in at 6,318. We would get short on a bounce to 7,628 with stops on a close above 7,637.