Look for long positions on Nasdaq dips, until the MACD crosses.

Look for long positions on Nasdaq dips, until the MACD crosses.


The bull market continues for the past 7 weeks. For position traders, we may be near a top to take a short position. On an intraday basis, i will buy dips as long as buyers continue to show the conviction to take this higher. As we near the pivot point , as shown by the blue line in the chart, pay attention to buying strength vs. selling fear in the price action.

Take small positions, as this bull rally will not likely continue another 7 weeks, before resuming something that I believe will be like nothing we’ve ever seen in a bearish plummet.

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