US Equity Market Near-term Outlook (video) A with the US markets poised to gap down today, this video covers the near-term outlook along with some key technical levels to watch on QQQ (Nasdaq 100 tracking etf). 1+ Related posts: US Stock Market Near-term Outlook (video) QQQ at near-term downtrend line resistance Will The Usual OpEx Ramp Occur Next Week? QQQ Breakdown & Bounce Off Support QQQ Additional Downside Targets & Support Levels Apr 5, 2016 9:25am|Categories: Equity Market Analysis|Tags: $NDX, QQQ, TQQQ|1 Comment You are welcome to share this! FacebookTwitterLinkedinRedditTumblrGoogle+PinterestVkEmail One Comment Kstellish April 5, 2016 6:52 pm at 6:52 pm Appreciate the quick synopsis. I know most of your focus has been on the QQQs as the leading indicator but I was curious if you eventually expand your shorts into other indices as they roll over or do you prefer sticking with one. I assume they all move pretty close in tandem with some variability. The reason I ask is because I’ve noticed the SPY/SPX make a bigger dent on the engulfing candle from Friday (actually closing below Friday’s open). While not getting too caught up in intraday charting, it looks like the MACD, RSI, stochastics, CCI, etc all seem to be sliding towards that downward move with the MACD actually beginning its cross on the daily. Divergences also present. I guess my question is, is it because you see a greater R/R with the QQQ as opposed to the SPY or is the SPY an appropriate option as well? Also, assuming the bearish case takes shape, at what point would you increase your short exposure? 0 Comments are closed.