While the recent QQQ swing trade was stopped on the (re-instated) daily close above 580 on Friday, the next sell signal & objective short entry will come on a solid break and/or close below this uptrend line/rising wedge on the 60-minute chart below, along with breakdowns below the comparable rising patterns on the 60-minute minute charts of /NQ (Nasdaq 100 futures) and /ES, (S&P 500 futures), also below.
QQQ 60m Sept 15th
NQ 60m Sept 15th
ES 60m Sept 15th
Of course, the odds for whipsaws, both false buy & sell signals alike, are elevated this week with the FOMC rate decision due out at 2pm this Wednesday. As such, best to keep existing & new positions light until the dust settles later this week. Just passing along the setups for those interested, with several more trade ideas to follow shortly.