The NASDAQ Snap Pullback July 28

Jul 28, 2017: 11:06 AM CST

The Big News yesterday was the snap-collapse of the NASDAQ and leading tech companies mid-day.

The result – so far – has been a sharp drop and bounce today off the first Fibonacci Target.

Here’s the NASDAQ – @NQ futures – and the new Fibonacci Grid in Play:

A sudden sell swing swept the market and shocked traders as price collapsed from the 6,000 index level.

When the dust settled, the @NQ collapsed 150 points toward 5,850.

Look closely to see that this level – 5,842 – is the 38.2% Fibonacci Retracement as drawn.

Active traders can continue playing price swings toward and away from this key pivot – and of course the prior high.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

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Corey Rosenbloom, CMT

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