NQ1!, Recent Upside Move is in Question.

A day session spent most of the time balancing right at the support and eventually broke the support during the afternoon session. Whether it is a short term weakness or the beginning of a bigger correction remains to be seen. The broken support is now resistance and retest of lower supports shown on the charts is expected. If the market somehow manages to go back into previous balance then it would make this breakdown invalid and positioning long would be less risky.

Stay nimble.

8/12/2019