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Shazam Batman!

Shazam Batman!

E-Mini Nasdaq 100 CME_MINI:NQ2!

Shazam! We said in a recent post (see link below) that if the Nasdaq had legs then the 4550 area would be the target for longs. Well, those legs grew quick thanks to Google0.00% and Amazon earnings after the bell. We were not on this ride. We waited for an opportunity to get long and never got a deep enough pullback...that's trading. NOW WHAT? What ever you do...don't chase at these levels. This has been one monster move and with this pop we think we could see some profit taking on Friday. For now we sit on our hands and wait but will watch for a meaningful pullback. Stay tuned.