visumjay

visumjay Updated 

Numerous lower daily highs suggest a decline of at least a couple days is likely fairly soon, maybe this week. 4140 - 4150 should make for low risk swing short entries. Biggest risk being a very bullish news shock.

visumjay

Observation in text box on chart. I do not trade such long term time frames but I will keep this idea in mind while trading from day to day.

visumjay

Follow through to the downside early next week is all but guaranteed. This week's range height (not shown) breakdown projection is 3999. There is a virgin weekly POC and a previous weekly swing high around 3950 currently indicating the only visible potential support.

visumjay

The possible fly in the ointment for the major index's breakout of trading range.

visumjay

Simple range breakout projection

visumjay

NQ Range breakout