Short the Nasdaq futures on Monday.
The nasdaq has enjoyed two days of recovery from the down trend. My bias has been to the short side of the market for a few months now. A major support area as seem by the vertical line on the day chart should provide a good area to go short. However, make sure to confirm this by a technical reversal signal of your choice, or a visually large and deliberate, spiking red candle ( use any short term intraday chart to detect). If the market doesn't quite make it to this level, but shows weakness, I will go short but be prepared for the market to reach the level mentioned (14,250) and go in with a calculated loss just above the horizontal trend line. Realize, it is entirely likely over the weekend that Futures could open down sharply Monday. If you want to get in, plan on trading Sunday evening as I will most certainly plan on. I will be surprised if the Nasdaq closes monday on a positive note, but I was surprised to see it up the last two days.
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