We now have that lower low that I was leaning towards in the $NDX/QQQ, just like we had when the market bottomed at this support level back in early February immediately before prices exploded up to new all-time highs (see arrows). Although I don’t expect a bounce of that magnitude, nor am I even sure that we will get one, I took precautionary measures to partially hedge my remaining short positions here buy going long the QQQ (via various leveraged derivatives). My plan is to see how the markets follow through early next week before either moving back towards an aggressive short position or increasing my hedges and further reducing my short exposure.  Updated 60 minute chart below.

QQQ 60 minute 2 April 11th

QQQ 60 minute 2 April 11th