Sunday, March 19, 2017

Nasdaq (update)

Friday produced an inside bar, so the doji candle was neither triggered nor violated.  We have solid upside resistance all the way up to 5535.50.  I would initiate a small bearish position with a move below 5402.25, which would trigger the doji pattern.  If futures, then aggressive stops could be placed above the doji high of 5440.00.  Conservative stops could be placed above my upper resistance zone @ 5535.75.  Some bearish options plays could make sense as well.  If the doji high holds, then I see a potential downside move to the 5105 to 5000 range.  If the doji pattern doesn't get triggered and we move higher, then I will wait and look for another sell signal.




No comments:

Post a Comment