I remain in active trading mode this week, or more so through today as I’ll be leaving town tomorrow morning & on vacation for the remainder of this abbreviated holiday trading week. For those interested, this 10-minute chart of /NQ (Nasdaq 100 futures) is marked with some nearby “micro” resistance levels for active traders. Reactions upon the initial tag of each level are likely with a solid break above each level opening the door for a move up to the next resistance level.
NQ 10m Nov 22nd
Of course, the market could certainly go down from here & if so, a solid break below the 11529ish support (the lowest support level marked on this chart) would likely usher in a wave of selling. However, the positive divergences help to support the near-term bullish case.
Keep in mind that whipsaws (false breakouts/breakdowns) are fairly common during the typically low-volume abbreviated Thanksgiving trading week. As such, this is usually a good time to keep trades light or take some time off to spend with family.