Curr: Long Looking to: Sell / short at 9,202
As of 5/15/20 close: 9,119.50
LAST WEEK: We suggested buying dips to 8,896 with stops on a close < 8,850 and with a profit-taking target of 9,435. We cautioned against shorts unless 9,987.75 is tested.
UPDATE: NQ futures failed to make it all the way up to 9,435 before dipping. Theyre now bouncing and may have room to run up to 9,202.75 before running into a test. If that level holds as resistance, look for NQ futures to dip to 8,557 8,658. We would look to sell longs / get short at 9202 with stops on a 4-hr close above 9205 and would look to cover down at 8,658.50. We would then look to get long at 8,557 with a target of 9119 and with stops < 8,498.