Firstly, the 120-min on NQ and ES is still on a buy, but is in a position to get rejected at the zero line, if we selloff tommorow.
The bearish shooting star pattern appeared on the NQ at two different timeframes (120-min and the daily charts), which is pretty ominous. For this bearish pattern to confirm, we need to open Friday around the Thursday's closing levels (or even better gap-down) and selloff the rest of the day ending in a red candle. That would confirm that it the rally from ES 1492 was a 2 day wonder and the next downleg has begun. Anyway, i preferred to jump the gun and took a stab at a short here around NQ 1958, since the risk/reward is so good. Not to mention that i closed all my longs at the close. A hourly close above NQ 1968 will stop me out and also keep the bullish structure intact. Call me a bear for today !
We'll see what Friday brings.....
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