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NQ: Short it here for a ride to 12450

NQ: Short it here for a ride to 12450

NQ: Short it here for a ride to 12450 E-MINI NASDAQ-100 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:NQ1! torquio NQ has staged an impressive rally off the lows however as it currently stands there are a number of factors that make me believe this rally is due for a correction: 1) We are hitting the trendline resistance of the entire decline (purple trendline) 2) We have reached interim targets (or almost have I can argue for slightly higher to 13450) for this corrective move higher 3) We have a bearish throwover above the upper trendline of the wedge 4) We possibly have a very sneaky break lower below (and retest) of the lower wedge trendline 5) We have RSI in extremely overbought territory Overall there is a good chance of a decline into support around 12450 - 12500.

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