From TradingView · · 1m 20s
Nasdaq 100 Short Setup for Wednesday
Short Nasdaq 100 from 29,421-29,473 zone with targets at 29,316, 29,207, and 29,138
In brief
Short Nasdaq 100 from 29,421-29,473 zone with targets at 29,316, 29,207, and 29,138 Short Nasdaq 100 from 29,421-29,473 zone with targets at 29,316, 29,207, and 29,138 Originally reported by TradingView.
Nasdaq 100 Close
Nasdaq 100 futures settled Tuesday at 29,246.75 after a 287.75 point session between 29,495.25 and 29,207.50
Market Context
Cash index fell 0.65 percent against 0.45 percent for broad market, with Treasury yields topping 5 percent since 2007
Price Structure
Price sits below 5-day average at 29,416.75 but above 200-day average at 27,824.07
Dealer Positioning
Fund closed at 705.38 beneath modeled gamma-flip level of 718 and volatility threshold of 712
Key Resistance Zones
Resistance levels include 29,713 (Pivot R3), 29,604 (Pivot R2), and 29,541 (40-day average crossing)
Support Levels
Support levels include 29,207 (Tuesday's low), 29,179 (computed objective), and 29,138 (Pivot S1)
Short Setup
Short Nasdaq 100 from 29,421-29,473 zone with targets at 29,316, 29,207, and 29,138
Risk-Reward
98 points of risk against 131, 240 and 309 points of reward for 1.3 to 1, 2.4 to 1, and 3.2 to 1 ratios
Event Timing
Rate decision at 02:00 PM ET with retail sales at 08:30 AM ET and volatility index at 09:30 AM ET
Market Dynamics
Market configured to expand rather than drift with dealer positioning beneath modeled flip level
What it means
Short Nasdaq 100 from 29,421-29,473 zone with targets at 29,316, 29,207, and 29,138
