QQQ is approaching a confluence of key resistance levels on the daily time frame: The primary (BOD) downtrend line, 200-day SMA, & 200-day EMA.
QQQ daily Jan 26th
Zooming down to the 60-minute chart, today’s pre-market seesion breakout above this minor downtrend line has taken QQQ to another divergent high with the next objective short entry here and even better on a pop closer towards 293.35 (and/or the 200-day MA’s & downtrend line on the daily chart), targeting another pullback to the uptrend line.
QQQ 60m Jan 26th
Likewise, the next objective short entry or scale-on zone for /NQ will be the aforementioned levels on QQQ as well as a pop into 12057ish resistance level & divergent high on this 60-minute chart.
NQ 60m Jan 26th