I’m now watching to see if the Nasdaq can recover and bounce back to test 8000.
Like I said in my last video, there isn’t enough profit potential at this point to make it worth trying to catch the last 1%. It’s very late in the daily cycle and that puts the odds against a sustained breakout above 8000.
When we do get a pullback into the next daily cycle low that will be a much less risky spot to buy. At that point there will be another 35-40 days of potential rally. Right now we might have 2-5 days to rally, and we could also turn south again before the close. So too much risk, not enough potential.