The longer these divergences & overbought conditions extend, the more powerful the correction is likely to be once it comes. Despite the recent resiliency in the broad markets, it still appears that the R/R is very much skewed to the downside vs. upside from here. 110.70 is my minimum & preferred downside target on QQQ at this time.
QQQ 60-minute Aug 10th
Still awaiting a solid & sustained break below SPY 215.30 with confirmation on the MACD & 13/33 trend indicators for what will likely be the catalyst for the most powerful correction in months, possibly years.
SPY 60-minute Aug 10th
IWM breaking below this minor uptrend line could offer an aggressive/early short entry in anticipation that SPY & QQQ are also likely to break down any day/minute now.
IWM 60-minute Aug 10thSPY
QQQ