Currently: Short Looking to: Cover @ 8,725
As of 1/20/20 @ 12:01am EST: 9,178.50
LAST WEEK: We suggested shorting at last weeks levels with a downside target for covering at 8,205.
UPDATE: NASDAQ futures have hit the 161.8% upside Fibonacci extension line for what appears to be a short-term third wave higher. That level comes in at 9,187.
If we are correct, we should see a pullback to either 8,724, 8,437 or 8,706. We would be shorting here with stops on a daily close above 9,190 and with a downside target for covering at 8,725. We would try getting long at that level with stops below 8,720 and with an upside target of 9,400.