QQQ is currently testing the 191.28ish support which, if/when broken, will likely trigger the next wave of selling. 60-minute chart (all charts) below:
QQQ 60-min July 18th
The next sell signal on SPY to come on a break below 296.30 assuming QQQ is also on a sell signal & not at or just above support at the time.
SPY 60-min July 18th
IWM is primed for a drop down to the 150.80 target pending a break of yesterday’s lows.
IWM 60-min July 18th
/ES (S&P 500 futures) is bear-flagging just above the 2973 support with the next sell signal to come on an impulsive break below the flag & the 2970 level.
ES 60-min July 18th
/NQ (Nasdaq 100 futures) appears to be bear-flagging with an impulsive break below the flag likely to take it down to the next target zone. No impulsive breakdown, no sell signal plus, keep in mind that MSFT (Microsoft), which is not only the world’s largest company & a top-heavy component of the Nasdaq 100, reports earnings after the close tonight which could put the market in a holding (wait & see) pattern today –or– will nervous longs with embedded gains look to book profits/lighten exposure before the close today? Anything is possible but best to let the charts be our guide.
NQ 60-min July 18th