Both the E-Mini Nasdaq NQ, and E-Mini SP500 ES, have set up head and shoulders patterns on 60 minute charts. NQ projects to 2430.00, while ES Projects to 1260. I’m holding bearish ETFs TZA, QID, TYP, and the 2X VIX Short Term ETF – TVIX.
E-Mini futures for the Nasdaq are winding tight. They must surpass the 2240’s and hold for a bullish case. If the head to the 2230’s, and stall, retrace, and move back into the wedge, it would be very bearish.