Monday, November 11, 2013

Fork in the road...

The Nasdaq 100 and Dow Jones futures are touching intra-day resistance. Lately the Dow has been leading so taking cues from it's price action will likely give an early heads up to market direction. A close by the /YM above 15740 today could lead to even more short term strength. However, don't be surprised if selling begins to push the markets lower later in the day as sellers respect short term resistance.
/YM (Dow Jones) 4hr

/NQ (Nasdaq 100) 4hr

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