The /NQ & QQQ sell signal I’ve been expecting & on watch for in recent videos has now triggered via the false/failed breakout on this move back down below the 22100 support/resistance level. Previous (Tuesday’s) and updated 60-minute charts below.
NQ 60m Feb 18th
NQ 60m Feb 20th
With that being said, I would be remiss not to reiterate that whipsaws remain common in sloppy trading ranges, such as this one, so if & as each of these support levels are taken out, especially the red line, the odds that a market top is in will rise accordingly. As the odds that this failed breakout may, in turn, prove to be another whipsaw are decent, I’ve added an objective stop level just above the recent highs for those looking to initiate or add to a short position on QQQ or /NQ here.