The bullish pattern shown does not square up with the charts of other indices, since last week’s high in this vehicle did not reach its ‘D’ target. However, we can consider NQ as predictively aligned with the others, since it is hardly unusual for rallies to fail at the p2 ‘secondary pivot.’ This holds true even for long-term trends, even bull markets. I have not advised shorting this vehicle as I did its QQQ cousin, however, because p2 tops are not often definitive, but also because intraday price movement in NQ has been too nerve-wracking to flirt with other than by way of relatively labor-intensive rABC set-ups. Stay tuned nonetheless, since an easy opportunity could open up. ______ UPDATE (Dec 22, 8:40 p.m.): Shorting QQQ still looks less stressful, but if you trade futures only, give me a shout in the chat room and I will attempt to provide timely guidance.
NQH21 – March E-Mini Nasdaq (Last:12672)