Trading the Nasdaq-100 (NQ) Futures

[Dogpile]

NQ essentially sucked and I didn't make a single NQ trade today. I had a bullish bias coming in due to the 'pinball buy' daily set-up (a Rashke 'Street Smarts' daily bias) but the 15-min chart didn't co-operate for a clean set-up. one more push down in the morning would have set-up a buy for me but it wasn't to be. here is the quick video I posted yesterday regarding the 'pinball' set-up for today:

http://www.youtube.com/watch?v=L8rzP7eqgQk

Note that while I couldn't find a good 15-min set-up, the market did trade back to previous days POC at 2002.75 -- a common tendency. This gave nice directional bias for the morning session -- in fact it hunted down previous days POC almost to the tick (yet again) before forming a choppy coil. Note how todays early-afternoon choppy coil did not compress into a triangle type of pattern -- creating a difficult pattern to read. It did do a 'ABC' down move before rocketing higher late in the day. But I was busy trading YM.

The late push up in price is nice because the market will likely be opening 'out of balance' (ABOVE todays POC). This makes for better trading tomorrow -- hopefully.