No hurry to go long as NVLS (one of our watch list plays for downside) has a bearish engulfing that 'eats up' like pacman no less the prior 6 bars on 5 minute chart. We have dubbed today's day the Gap 'n Crap day (the gap 'n crap day can begin with a gap up or a gap down, will elaborate on this chart pattern later today or before the weekend) (the gaps 'n craps are setting up before I can put them on our video instruction list)
I WOULD NOT HOLD SHORTS THROUGH THE SESSION CLOSE. Much to easy to short the spike high then run in panic from a gap 'n snap open
3:30 reversal period.. STILL LOWER FOLKS..all our retracements have hit lows of session we will be covering the rest of any positions by 3:45 to 3:50 (unless the market bites even lower, I'd wait for 3:55)
Nasdaq futures are horrible (great for shorts) plays now on the short side of course are at their bases and long plays are too high risk.
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