FxWirePro Call Review: NASDAQ 100 short call under threat; likely to hit stop loss

In an article published in August, named, “FxWirePro: Sell NASDAQ 100 for 1:3 risk-reward ratio”, available at http://www.econotimes.com/FxWirePro-Sell-NASDAQ-100-for-13-risk-reward-ratio-855324 we recommended selling NASDAQ 100 at the then current price of 5926 with a target around 5630 and stop loss around 6022 as our bullish target was reached, market was showing signs of fatigue after running on better EPS in the second quarter, and as North Korean tension was taking its toll.

NASDAQ 100 declined to as low as 5746, however, it has recovered since then, riding on receding North Korean tensions, expectations of Tax reforms and cuts passing through congress, and expectations of a long pause from the U.S. Federal Reserve. The index is currently trading at 5995, which is a new all-time high. It looks more likely that the call would hit our stop loss, which we prefer to maintain at this point. Bulls are most likely to be aiming for 6115 area.