The QQQ active short swing trade is coming up on (and has effectively hit) T2 where the odds for a reaction are likely before the next leg down. (min. potential bounce target ~421.50, max. 433). Previous (April 11th & 18th) & updated daily charts below.
QQQ daily April 11th
QQQ daily April 18th
QQQ daily April 19th
My best guess is a late-session rally up to the 421.50ish resistance but as of now (although that hasn’t happened even begun to happen yet), I’m 50/50 whether the market will continue a hard-ramp towards the close or get rejected there. If/when we get there, I’ll assess the charts at that time.
As an active trader, I just reversed (from short to long) in my trading & account & might regret that (or flip back) as NVDA is still below 840 although the day is still (relatively) young. Bounce or no bounce, I still favor more downside next week towards my T4/T5/200-day moving averages swing target.