The ‘final straw’ support highlighted in yesterday’s video (minor uptrend lines/wedges on SPY & /ES) have now been taken out following the recent sell signals on /NQ & QQQ, with a solid 60-minute candlestick close below the trendlines/wedges on SPY & /ES (11 am ET candles*) to confirm the breakdowns. 60-minute chart of SPY & 120-minute chart of /ES below.
SPY 60m June 13th
ES 120m June 13th
As with Pavlov’s dogs, the dip buyers are doing what they do, salivating (buying) as the dinner bell (dip) rings. As such, this post opening rally provides for an objective short entry or add-on following the recent sell signals on /NQ, QQQ, SPY, & /ES as long as all four, collectively, don’t move back above their respective trendlines. /NQ previous & updated 60-minute charts below.
NQ 60m June 12th
NQ 60m June 13th
*There are 6½ hours in the regular trading session. Therefore, the first candlestick on the 60-minute chart is truncated to only represent the first 30 minutes of trading (9:30-10 am). Hence, the first full 60-minute candlestick is finalized at 11 am ET).