My internet went out (#comcast-sucks!) shortly after the post was published earlier today & I’ve been forced to tether off a spotty & sluggish cell connection since. As soon as my service is restored I’ll record & upload a video with some things that I’m watching/trading. Until then, here’s a 5-minute chart of QQQ showing the latest divergent low at support, offering another objective level for active traders to reverse from short to long for a quick bounce trade.
QQQ 5m Aug 9
CPI is on deck for tomorrow morning & my expectation is for a hot (above expectations) number, which has the potential to cause a swift drop in the stock market but I’ll expand on my thoughts & the levels to watch as soon as I can get a video published.
Note: It took a half-hour & multiple attempts to get this chart uploaded but QQQ is still trading around the same level. Currently looking to game an afternoon (small) bounce, followed by a late or post-session fade although we still have substantial positive divergences all the way out to the 60 & 120-minute charts that have the potential to play out for a more substantial rally. More to come soon although Comcast keeps pushing back the ETA for service restoration & they just bumped it back to 5 pm so not sure if I’ll be able to get a video out before the close.