/NQ is slated to pick up where it left off (around the 11894ish resistance) after putting in a small divergent high overnight & hitting the first/minimum pullback target* (dotted line). Although the minimum target was already hit last night, we could get another sell signal to come on a break below this minor uptrend line.
*The minimum pullback target was highlighted on yesterday’s charts & also stated as “/NQ traders looking for a relatively minor pullback might target just above the 11777ish minor support.” in this comment below yesterday’s post, with /NQ falling to 11781.25 around 11:30 EST last night.
NQ 60m Nov 12th
With the minimum pullback target hit & the recent price action on the more significant daily chart of QQQ still constructive, that could be it for the minor pullback I was looking for. QQQ is starting to clear above that 289.85 resistance level shortly after the opening bell so as of now, we don’t have any sell signals until & unless that minor uptrend line/wedge on /NQ is taken out with conviction & QQQ falls back below 289.85.