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Day three: our potential US tech 100 trade

Taking profits on the trade at 3511 yesterday seems to have been a good move, with the index having snapped back to 3536 (at the time of writing).

If you look at the 9-day RSI, it was certainly bullish to see the level bounce off 30, thus printing a double bottom and has subsequently started moving higher.

I looked at to easing into new short positions yesterday at 3551, and while the position was not filled overnight, I will continue to look at downside opportunities. Stops could be placed at 3585, just above the former uptrend drawn from the 2013 low.

US Tech 100
IG Charts

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