Since peaking on Dec. 13 at 12,203.00, the NASDAQ 100 has been falling. It promptly hit a low at 10,667.70 on Dec. 28.
Since then, it had recovered in a 3-wave structure, suggesting this recovery is likely to be corrective in nature and once momentum wanes, the larger dominant trend will reassert itself.
This afternoon, this recovery hit an intraday high of 11,100.10 and eased back. It is possible, this recovery may be stopped near the 100% Fibonacci Expansion of 10,667.70 to 11,096.20 from 10,673.20 at 11,101.70. If so, selling is advantageous with an eye for a re-test of either the Dec 28 low at 10,667.70 or the Jan 6 low of 10,673.20 - at a minimum.
#1 Sold @ 11,052.90 - Mon, Jan 9, 15:55pm.
#2 Sold @ 11457.30 - Wed, Jan 18, 01:36am.
#3 Sell Limit @ 11,569.00 - Wed, Jan 18, 01:39am.
Stop @ 11,750.00
Target @ 10,674.00