Currently: Short Looking to: Cover @ 8208
As of 1/10/20 close: 8,977.88
LAST WEEK: We suggested shorting at last weeks levels with a downside target for covering at 8,205.
UPDATE: The unbelievable strength in the large-cap tech leadership continued for another week propping up the NASDAQ to new all-time highs once again. A look at the daily chart of the NQ futures to the right tells us that the next possible upside target / ceiling may be 9182.04. If that level holds, a pullback to the 8208 8720 range should be expected.
We would hold shorts at least until 8720 and ideally until 8208 and would look to get long aggressively down at 8208.