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[Pabst]

An old trick in commodity trading is to be cognizant of levels where the market previously engaged in "single prints".

On February 15th, 2001 NDX gapped 50 higher from the previous day and closed 60 better after trading 118 higher on the day. The closing price of 2371 has never been seen again.

The next session (2/16/01) NDX gapped 60 lower leaving a double gap in the 2300's. (unfortunately I can't "copy" my Esignal charts).

As much as I'm chomping at the bit to get short here and now it's impossible for me to not see a ton of risk selling into these prices.

We all know selling this market the past 5 years has been a bear (no pun intended) but generally selling swing highs has produced little pain. These highs could be different......