NQU20 – Sep E-Mini Nasdaq (Last:10845)

If Tuesday’s high turns out to have marked an important top, it occurred in a logical spot — almost precisely at the midpoint resistance of a weeks-old bullish pattern projecting to 11688.  Even so, bulls held their ground, closing this bloated gas-bag midway between the day’s high and low.  My gut instinct would be to short into moderate strength on Thursday’s opening, since the Naz look so fatigued. It would become a so-so ‘mechanical’ buy on a pullback to the green line (10,691), but I am not recommending this unless you know how to cut the risk down to relative pocket change using a ‘camouflage’ set-up.