After reversing off the first targets from the 5-minute charts posted yesterday & earlier today, /ES (S&P 500 futures) backtested & reversed off the downtrend line & is currently testing the 4024 resistance level (from the previous chart), thereby offering another objective short entry and/or a close of any long trades taken off the backtest of the trendline earlier today. Active traders could opt for a tight stop somewhat above this level and/or somewhat above the next nearby resistance levels of 4062 or 4100.
ES 5m 2 May 10th
/NQ has formed a new downtrend line (yellow), also offering another objective short entry here as it tests that potential resistance level, with stops somewhat above the 12700 resistance level mentioned in the video earlier today, or somewhat above the next resistance of 12556 for those that prefer a very tight stop.
NQ 5m 2 May 10th
ETF alternatives for trading the S&P 500 are SPY (+1x), SH (-1x), SDS (-2x), & SPXS (-3x) or QQQ (+1x), PSQ (-1x), QID (-2x), & SQQQ (-3x) for the Nasdaq 100.