Market Analysis and Trades for 6/25
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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 6/21
My major target for the NQ weekly short was 29302-29339. I covered directional shorts and 90% of my hedges there today and will re-evaluate if this MU 0.00%↑ move fails. My risk was already hedged down to 29300s and frankly it was a terrible hedge as most of the recent Discord swings have been green or flat the last two days.
I didn’t really trust the move lower anyway given it looked like ES was just “stretching” its range. To me that meant the risk of a failed breakdown on NQ was high.
We now need to see if this afterhours move sustains this potential UPside range break on NQ or if it just “stretches” its range like ES did to the downside today. ES did not even test the top of its range afterhours. A failed break on NQ would be . . . suboptimal for bulls. Big day tomorrow.
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