@rsotc Randy, Do you think it will bounce from here or keep holding shorts position..

AAPL, MSFT & AMZN still holding support with /NQ holding the 8961 support. The longer they do so, the less ideal that is for the bear flag scenarios as the move leading out of a bear flag should typically be as impulsive as the move leading up to the formation of the flag. Still anyone’s game here as the bulls continue to defend a key support level.

Most likely (but not certainly) as the Euro tends to trade inversely to the US stock market.

@rsotc Randy, if we get a snap back rally this week, would that likely put a brief near term damper on the euro futures advance?

Indexes have taken out the lows. Buyers not stepping in on the 3 FAAMGs that are still clinging to support so looks like more downside coming unless the buyers step in soon. (Went back short with the original trading plan to trailing stops down towards those potential bear flag targets).

Can’t recall if I covered /E7 (Euro futures) in any of the recent videos but still looking good following the recent divergent how & bullish falling wedge breakout. Walking up the minor uptrend line which continues to provide objective entries or add-ons on the pullbacks. 60m chart below.

Correction: Some (not most) FAAMGs still at or just above support; AAPL, MSFT, & AMZN although should they drop much more, those supports will be lost & could trigger another wave of selling. Key near-term battleground for the bulls & bears right here.

…and may be right back short again, should we take out today’s lows (so far) and most of those FAAMG supports with conviction as that would increase the odds of those bear flag scenarios playing out. Active traders must stay nimble & flexible while swing traders might opt to hold tight on any shorts for now as more downside from here in the coming days to weeks seems likely, whether or not we rally first.