The Nasdaq futures (NQ) broke out of resistance at 4,441.50 but got promptly rejected at 4,450. That failed breakout look very bearish to me, and I think we could find ourselves going lower in the next few days.
Below us there is good looking demand at 4,205.75, which is where I’ll be starting to look for a long.
Looking at the weekly chart, with indicators courtesy of Emini-watch, you can see that we put in a pullback to end of trend, with a yellow amateur bar trying to get long at the top. The picture is quite bearish.
I currently have a short order placed at 4,401.75, from a small 2 minute zone.