I had a long day yesterday, so when I tumbled into bed last night without my iPad at my side (I couldn’t find it), I decided not to care. So I was deprived of my occasionally peek at the markets. What a pleasant surprise to wake up to a sea of red, once I finally ambled down to my office.
The number 2800 is important once again. It used to be the ceiling, and now it’s the floor. More precisely, I’d say 2790 on the ES is the key.
As for the NQ, the breakdown is a little farther away (7165), and it’s a a terribly fascinating pattern of symmetry. Notice how the topping pattern gave way to a basing pattern which, in turn, has led to a larger topping pattern. They are clearly dancing at that green tinted line.
I came into the day rather heavily short (60 positions, 220% buying power) and have 30 others I’m watching with interest.
