Sunday Prep 7/25 - $NQ/$QQQ Overall Market
So like the S&P, the Nasdaq pulled back as well. But unlike the S&P, the Nasdaq’s pullback was shallow. It just made it back to the 20d, and I really wanted to see it closer to the 50d. So again, I think that the higher we go without a pullback to deeper areas, the more likely I am to look for short setups. Keep in mind, if at any time this week we DO pullback to much better areas and start to find support (for NQ or the ES), then I will be willing to look for some nice long setups as well.
Notice, the Nasdaq HAS had plenty of months that lost the previous month’s lows. So there have definitely been times where the Nasdaq has had some decent resets.
Tradingview Chart link:
Tradingview Chart link:
Notice, the Nasdaq HAS had plenty of months that lost the previous month’s lows. So there have definitely been times where the Nasdaq has had some decent resets.
Tradingview Chart link:
Tradingview Chart link:
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