Premarket of NQ is rather flat. No major report released today.

Daily chart of Nasdaq Composite, a lower high was formed last week. Mike did a recap at his site.

I’ll be paying attention to that downward sloping trendline, especially if it stays unbroken and crosses the 50-day moving average. Those two lines could become significant resistance.

For short term trading, I am not bullish at the moment. I am interested in watching if we are heading to 2400 level. Well , just a guessing game.

60 minute chart of NQ, we again come back to the support level which formed since last Monday around 1784. We are still in downtrend, this is supported by negative Adjusted TRIN as well.

From the desk of Tradergav.com