I know that shorting has been tough lately but I would be remiss not to mention that the $NDX looks like a very objective short entry at current levels.  I believe that a short here with a stop just above the recent highs offers a very good R/R.  As this is a broad market index, my preferred vehicle will be the QID (2x short $NDX).  QID will be added as a active short here at 27.80 with a stop below 27.38, which would be a loss of only 1 1/2% should this trade be stopped out. Price targets TBD soon and I will post both “correction” or shallow pullback targets for those who are longer-term bullish but looking for an oversold pullback trade, as well as longer-term swing targets as well.  Here are the updated QID daily bullish falling wedge and inverse head & shoulders pattern scenarios that I have been tracking, both of which are still in play so far.  Note: the QID trade will appear under the short setups and active short trades category, even though you would buy QID (go long), as it is an inverse (short) etf.

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