The pullback to p=11,734 and subsequent bounce has brought a bigger, bullish picture into focus that supersedes the minor, bearish one we used a day earlier. It projects to as high as 12,808, having tripped a ‘mechanical’ buy signal Thursday at the red line. I’ll note as well that a plunge to 11,197, the green line, might seem harsh, but it too would signal a tempting ‘mechanical’ buy (even if we are unlikely to see this happen). For now, trade this vehicle with a bullish bias, using the 15-minute chart or less to craft an entry set-up. I would not recommend taking a position home over the weekend, no matter how profitable it is at the bell.
NQZ20 – Dec E-Mini Nasdaq (Last:11,899)