Market Analysis and Trades for 5/15
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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 5/10
With yesterday’s breakout on ES I was targeting the 7540s
Today’s high was 7540:
NQ had closed right at its breakout and after an early overnight rally, was a bit sluggish premarket while the Dow was on a moon mission. I suspected we might see a relative strength flip at open.
Sure enough, YM was an absolute dog at the open, NQ opened RIGHT at its breakout level (for which we were using the 469-480 weekly level), held, and ripped.
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