Nasdaq 100

The Nasdaq 100 broke down significantly during the trading session as well, reaching down towards the 6350 handle. This level offered a bit of support, but I think that the real support is closer to the 6200-level underneath. I believe that the market will continue to be very noisy, and it certainly looks as if traders are willing to jump out as soon as something that is either implied or happens. If we were to break above the top of the candle for the session on Friday, that might bring in more momentum, sending the market towards the 6800 level, possibly even the 7000 level. If we were to break down below 6200, that could unwind this market rather drastically. Either way, keep your position size small. There's obviously going to be a lot danger out there.