Thursday Evening

Toes!!! Is that you?!!!

It's tough to trade a market that is jukin' and jivin' to every word coming from some mealy-mouthed politician or even a rumor that one of them is going to meet with another one.  Soooooo ..... remember ..... you don't have to.

Naz Futures Inverse Head and Shoulders

Naz Futures Daily (Dec)

I noticed this potential setup and thought it was worth posting. I'm not sure if there is already a lot of chatter about it.... I'm thinking the less chatter there is, the more likely that it can play out. This is the December contract that expires next Friday. Since we are so close to expiration, there isn't much difference between these numbers and the spot index (NDX).

The Head is about 2500, with a Neckline at about 2700... which puts a target of 2900. Under 2625ish and it starts to look iffy. It will be interesting to see how it plays out.

Thursday Morning

Only you can hit the buy and sell buttons but you don't have to do either one.  Trade 'em well or don't trade 'em at all.