Both Sides Now
Despite a run to new highs, just shy of 1235, the market traded lower in the late morning, currently at 1223. The market does favor the short-side under 1227. Above 1230, things look brighter for the buyers.
NASDAQ trading at 1703, just above recent key low levels at 1700 to 1697. Locals have been on both sides of this trade. Earlier, we had a failed retest of session highs. We’ll see if we make another run for these levels later in the day.