/NQ (or QQQ, TQQQ, etc. offers an objective although fairly aggressive long entry for active traders that might want to game a quick bounce here at the previous reaction low (and/or on a marginal but still divergent low) for a bounce trade with a minimum target of 13390 (QQQ 326.80ish).
NQ 60m March 14th
Swing & trend traders might continue to sit tight on any short positions for the time being although volatility is likely to remain high throughout this week & with the positive divergences in place on the 60-minute & daily charts, I can’t rule out the chance for a decent rally although my primary scenario remains more downside in the major stock indices towards my next price targets. As such, more risk-averse traders & investors might choose to lighten up and/or take full or partial hedges on existing short positions.
With the market about to close, those trading futures are able to better manage any new positions taken here while with stops that can be triggered overnight while ETF traders are at greater risk of a gap against their position(s) tomorrow.