Quote from murrica:
I've got first resistance area at 2978 - 2979 on NQ... (just look at daily longer term) where it is now. That's one area to try the dreaded 'S' word.
Beyond that we have close to 15,200 on YM (that is higher!) and other higher areas on the cash indexes.
So this is an example of, "Do I want to try to short at the very first resistance area?"
Personally, I am sitting on my hands. (Anyway, this is how I like to trade, it works for me).
edit: I'm also watching /TF and /EMD since they are (today) below the all time highs set in last night's overnight action..