NASDAQ-100 outlook for August 8, 2014

The index closed at the 50-day MA. Maybe there is some rebound from these levels. As of this writing, the futures are down by another 0.5%. Seems like the market is quite oversold now.
Short position is still intact. Stop-loss down to @ 3,878 (spot index, closing price).

NQ100_20140807

Chart courtesy of StockCharts.com. http://stockcharts.com

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