The chart show the Nasdaq Index to be locked in a duel between bulls and bears, but my hunch is that the futures will fall to at least the midpoint support at 3580.25 before they can resume their upward trek. That number is a Hidden Pivot, and it is attractively enough situated so that you could bottom-fish there, if not via camouflage, then with a 3580.50 bid and a three-tick stop-loss. Please note that if the stop gets hit, NQ would be signaling more downside to 3491.50. _______ UPDATE (April 6, 3:36 p.m. EDT): Friday’s avalanche crushed the midpoint support noted above, implying that the weakness will persist at least until 3491.50 is reached. This implies that you should trade with a bearish bias until such time as the target is achieved, and that you can bottom-fish there aggressively, albeit with a tight stop-loss, if you’ve been short on the way down.
