The NDX has hit the 200 day this morning after tapping up overnight. Now we have all 3 MAJOR exchanges hit the 200 day including the Dow, S&P, and the Nasdaq. The IWM is still weaker and has not touched the 200 which is actually more for the bear case here. The market has rallied up 8 weeks in a roW, and I believe since the NDX has now touched the “magical line” it gets rejected there.
Iam Shorting the NDX here at 7041 buy longing SQQQ. I am looking for a decent pullback and deciding from there. If it busts through the 200 day then I am wrong and out. Time to get the Bear hat on after fumbling for 8 straight weeks.