My final near-term target, T3 (dashed primary uptrend line) on the $NDX has been hit. Even if we are headed lower in the coming months, the odds for a bounce off this initial tag of support is very likely. The first chart below was published in this post on Friday morning (reflecting Thursday's close as the screenshot was captured before the market opened), followed by today's updated chart. (note: This is the same $NDX daily chart accessible on the Live Charts page as well as on the sidebar of the homepage). As the last couple of trading sessions have been wild & my positioning has gone from bearish (net short) to bullish (net long) literally in just a few trading hours, the annotations on this chart might help explain my rapid change of market bias & positioning.
note: I just fixed the typographic error that has mistakenly listed the horizontal support zone of T3 as 3740-3400 instead of 3740-3700, as indicated by the horizontal line.