/NQ & QQQ offered another objective short entry at the top of the trading range early yesterday with an objective opportunity to cover and/or reverse to a long at the bottom of the range for a bounce off that initial tag of support. As of now, the bounce off the bottom of the range has taken the $NDX back to the midpoint of the range as well as the 11351ish resistance. As the midpoint of the range (and the 11351 minor support/resistance level) may produce at least a minor reaction & possibly even the endpoint of this bounce with the next leg down soon to come.
NQ 60m Oct 7th
Essentially the $NDX is trading in what I like to refer to as “no man’s land”, which is when a security is smack between any solid support & resistance levels as the top & bottom of the trading range (yellow box) are the most significant levels. Still awaiting a definitive break above or below the trading range as that will likely determine the next swing tradable trend in the tech-heavy, market-leading Nasdaq 100. 60-minute chart below.