Curr: Short Looking to: Cover @ 10,361
As of 9/11/20 close: 11,048.25
LAST WEEK: We suggested shorting at 11,751.25 with stops on a close above 11,847 and with a target of 10,365 for covering.
UPDATE: NASDAQ futures ran up to our short-entry trigger last Monday and faded throughout the week and into Fridays close. The 1-hr candle chart is shown here and tells us that in the most bullish of scenarios (where this is just a mild pullback after a big run higher), NQ futures should trade down to 10,361 or so. We would cover shorts and get long at 10,361 with stops on longs on a close below 10,300 and with a target of 13,500.