SPY sell signal still to come on a solid break below this 60-minute bearish rising wedge pattern.
SPY 60m Aug 11th
The 268.20 target/support on QQQ was already hit with the Q’s recently testing that level. Next sell signal to come on a solid break below 268.20 & even better when/if the primary uptrend line below is taken out with conviction. Previous (Friday’s) & updated 60-minute charts below.
QQQ 60m Aug 7th
QQQ 60m Aug 11th
Just as I’ve been expecting silver to outperform gold during the next correction, which is certainly the case today, I still favor a short on the Nasdaq 100 (QQQ/NQ) over the S&P 500 (SPY/ES).
Shortly after posting the short setups on the major stock index futures & ETFs on Friday (first chart below), /NQ went on to trigger the sell signal/objective short entry on a breakdown below the rising wedge pattern, going on to hit the 10939ish target (twice) so far, with the next sell signal to come on a solid break below that level, which is currently being tested once again.
NQ 60m Aug 7th
NQ 60m Aug 10th
NQ 60m Aug 11th