The bottom line, the short-term trend is down, not confirmed though. I hold partial short overnight since the mini price target has not met, not because it’s safe to hold overnight.
Tomorrow could be a key day because whether it’s a breakdown of a trend line then back test to kiss the trend line goodbye or something else, we’ll have to wait and see. Overall, I’m not optimistic which I’ll blah blah in tonight’s report. For now what I can see the bull’s best hope is the seasonality, because according to the Stock Trader’s Almanac, First trading day in October, NASDAQ up 5 of last 7.
