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Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
I wrote this piece about possible timing for a sell on mini NASDAQ 100 futures last week on equities.com.
Using Time and Price Tools To Pinpoint A Sell on Mini NASDAQ Futures
As we near the end of the earning season and the NASDAQ composite is hitting that psychological mark of 5000, I thought it would be interesting to look at mini NASDAQ futures.
There is a difference between the NASDAQ composite we follow on the news and the NASDAQ 100 futures. The NASDAQ 100 futures follow the cash index of 100 NASDAQ stocks. The popular NASDAQ cash index we see often on the news is made up of more than 3000 components. Nonetheless, there is a very high correlation.
Rather than talk about fundamentals (Does it matter? it seems that we are still riding the fumes of QE’s….) I decided to take a look at the relationship between time and price to see at what level and at what price it may be worth to take a stab at a short position on mini NASDAQ 100 futures.
I measured the distance between the lows made on Oct. 20, 2014 and the high made on Nov. 28, 2014, then I applied that distance on what I consider to be a support level on the chart at 4081.50, that projected a resistance at 4481 (yesterday’s high was 4183.50).
