Curr: Long Looking to: Sell @ 13,520
As of 1/17/21 @ 6:09pm EST: 12,785
LAST WEEK: We suggested buying dips to 12,927 with stops below 12,700 and would look to sell longs at 13,520.
UPDATE: NQ futures pulled back last week triggering new long positions. We show the 4-hour chart of NQ futures here so you can see where support comes into play. Based on the Fibonacci extension line for the potential abc downside correction and the 78.6% Fibonacci retracement line, longs should hold on as long as 12,626.50 holds as support in the short-term. Aspiring longs can start positions at current levels with stops honored on a close below 12,626.50 and with an upside target of 13,520.