/NQ 11785 & QQQ 286 remain my most likely “max. bounce” targets although a rally to those levels will have confirmed & additionally firmed up the positive divergences so be open to all possibilities, especially if the Q’s take out 286 with conviction (if so, next decent resistance comes in around 291). However, my preferred scenario still has this bounce stopping between R1 & R2 on QQQ (11541 or 11605 on /NQ) followed by the next leg down. 60-minute charts below.
NQ 60m Sept 27th
QQQ 60m Sept 27th
On an admin note, as the path of hurricane Ian has continued to drift east, as of right now the current projection of both the location and the timing of arrival provides the worst possible scenario for where I live. The current forecast has a category 4 hurricane passing just to the west of the mouth of the Caloosahatchee River and coinciding with an unusually high tide & already elevated river levels (due to recent discharges from Lake Okeechobee) . That provides for the worst possible storm surge scenario with the right edge of the center of the storm skirting up the coast. Living on the mouth of the river plus a mandatory evacuation issued for my zone means that I need to finish battening down the hatches & evacuate later today or tomorrow morning latest. As such, updates may be light or nil for at least the next few days unless the course of the storm changes significantly between now & the expected arrival tomorrow.
As of now, no change in my outlook on any of the other recently highlighted trade ideas (crypto, Treasuries, US Dollar, precious metals, crude & nat gas). Should anything change, I’ll do my best to post what I’m seeing asap.