NDX - What Really Matters
Personally I enjoy trading the NASDAQ more than the SPX or its derivatives.
The NQ will let shorts out - added volatility creates bigger ranges for swing trading.
What really matters is the NASDAQ is respecting Points of Control and Gaps more than the Spoos. The S & P still has three unfilled gaps from August the NDX has none!
Todays price action was nothing more than house keeping. Forget about valuations if your trader - none of that makes sense. Price action make sense - and that's exactly what we saw today.
We stopped right at the bottom of a gap created a couple weeks ago, and rallied hard from there - over 600 points. Stocks aren't crashing - we just got to the bottom of a channel quickly - posted below.
Whats next? Is that a gap overhead?
The caveat to all this is a news bomb - but right we just playing back and forth inside a channel.
The NQ will let shorts out - added volatility creates bigger ranges for swing trading.
What really matters is the NASDAQ is respecting Points of Control and Gaps more than the Spoos. The S & P still has three unfilled gaps from August the NDX has none!
Todays price action was nothing more than house keeping. Forget about valuations if your trader - none of that makes sense. Price action make sense - and that's exactly what we saw today.
We stopped right at the bottom of a gap created a couple weeks ago, and rallied hard from there - over 600 points. Stocks aren't crashing - we just got to the bottom of a channel quickly - posted below.
Whats next? Is that a gap overhead?
The caveat to all this is a news bomb - but right we just playing back and forth inside a channel.
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