The market can go either way next week, but likely down instead of up. It tested the resistance and failed. It's likely going to fall back and test the 50MA.
Although I wouldn't take a directional trade, I would sell a credit spread with DTW before Oct 30th, with the short let at 11,000 or below. By the time it expires, 11,000 would be below 50MA and 100 MA which are both very strong supports fort his index.
However, I urge you to close this trade prior to the elections lest something bad happens.
QQQ
NDX
Although I wouldn't take a directional trade, I would sell a credit spread with DTW before Oct 30th, with the short let at 11,000 or below. By the time it expires, 11,000 would be below 50MA and 100 MA which are both very strong supports fort his index.
However, I urge you to close this trade prior to the elections lest something bad happens.
QQQ
NDX
