QQQ (Nasdaq 100 ETF) has hit the bottom of the first target zone (9/21 gap) here in the pre-market trading session where the odds of a reaction are elevated. Consider booking partial or full profits and/or raising stops if holding out for any of the additional targets (still the top of gap, T2, or T3) whereas active traders might opt to book profits on longs & reverse to short in attempt to game a pullback off this rally into resistance. Previous (yesterday’s, although I first mentioned reversing from short to long at Wed’s lows) and updated 60-minute charts below.
QQQ 60m Sept 28th
QQQ 60m Sept 29th