Went Long Again Nasdaq Futures, Price Dropped Right Into A 15 Min Demand Zone (2/3/21)

Today was really a lesson in intermarket analysis. Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets or asset classes, such as stocks, bonds and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.

Today, I discussed how the S&P 500 and Nasdaq futures hit a 4 hr supply zone, while the 10 yr bond hit a 4 yr demand zone. I was expecting a sell off, but because the equity markets are still in an up trend, I got long the Nasdaq futures.

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