E-Mini Nasdaq NQ Sept11 Higher Low Pivot – 062811

My last look at the NQ contract Daily Chart was for the June11 contract.  We’ve rolled over to trading the NQ Sept11 futures contract.

There’s a pretty steep trendline down on the dayly.  The NQ has retested the bottom, and should now head up to retrace 50% of the move I’d guess.  Monday 062711 put in a nice long power bar to the upside, which should follow through up to 2300.  My bias is long for now.  It’s got to continue with higher low candles at least a couple days.

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