Pre-mkt_2023_11_21:
US indices, and the NDX in particular, continue to trend strongly higher. It is a complete guess when the current trend forms it next short-term top, but it is a certainty the NDX (and other indices) will slow the current rate of change.
There may not be a dramatic blow-off top. It is more likely a Balance Area will form that includes retracement of larger degree than any that has occurred since the October low.
Fed minutes are released at 2:00 PM, EST Tuesday, and Initial Jobless Claims are announced on Wednesday morning at 8:30 AM EST.
The holiday week is providing a light volume environment making it conducive to ramps – both up and down, so be aware of that when using stops and determining position size.