Curr: Cash Looking to: Short @ 9649.34
As of 5/29/20 close: 9,587
LAST WEEK: We suggested shorting near 9,505 with stops on a close above 9,525 and with a target for covering and getting long at 9,036.50. The upside target on longs was 9,800.
UPDATE: NAZ futes managed to close above the stop-loss trigger of 9,525 last week. They now look like they will finish up this third wave higher at either 9,649.34 or 10,083.25. We
are simply identifying the three most recent higher lows as potential support for pullbacks. Those levels come in at 9,203, 8847 and 8,576. We would try shorts (given the favorable
reward / risk set-up) at 9,649.34 with stops honored on a daily close above 9,660 and with a downside target of 8,847.