Ho Hum...

Well Traders, it was a Ho Hum kind of day. The $NDX was down in early trading only to end up for the day a little over 5 points. Tomorrow is a short day, the markets are closed for Thanksgiving, Friday is a half day (and who the hell is going to be trading that day anyway), then comes the weekend. So I will have some really good days to burn off some time value from this play. I'll be curious to see where it ends up on Monday.

Here's the chart:Nothing really earth-shaking, but the MACD is falling, indicating some downward pressure, and the STO is so overbought that there has to be a down day or two imminent very soon.

Ideally, I'd like to see the $NDX fall to the lower support line in the channel (and even break through indicating a top has been reached), which will give me some breathing room. We'll see what the future holds.

Happy Trading and Happy Thanksgiving!