Keep in mind that I’m posting very active/day trades, which I don’t normally do on the home page. With that being said, as far as typical swing trading goes, I think it would be best to stay short if already short as we had sell signals triggered recently on the breakdown below the H&S patterns & so far today, those patterns were backtested with impulsive rejections off the necklines.
I would also reiterate my comments from the video yesterday that I think it is okay to have a starter/partial swing short position here but probably not a good idea to have a full or oversized short position as both QQQ & XLK are sitting right on or just above key uptrend line support & have yet to trigger a high-probability sell signal via an impulsive break and close below those trendlines. As such, the odds that they hold & rally off those TL’s & go on to make a marginal new high on the daily chart (4-6%+ above) are still decent. As such, one should also not get married to any swing short position should those levels hold (or if we get a false breakdown followed by a recovery of the TL’s).
Generally speaking, I think that one who is already short might opt to stay short at this time with the appropriate stops in place as the downside potential, should the market break support soon, is quite large.

Yep, short again as I was only looking to game the initial bounce off 7760 with the expectation it would break on the subsequent test following the initial bounce.

..and as I was typing that, my stop was hit on the remaining longs. May re-enter short soon if /NQ loses that 7760 support but need to confirm /ES, SPY, QQQ, etc.. also breaking support.

FYI- Just closed 1/2 of /NQ long at 7793.40 (avg cost, order filled between ..93.50 & ..93.25), raising stops on remaining contracts. Min. bounce target hit.

Normally, I post the active trading/day trading ideas, such as this one (short /NQ at the downtrend line late yesterday/early today & then cover & reverse off the 7760 support) with chart screenshot in the trading room but I included this one on the front page as it is related to the H&S patterns which are more relevant to swing traders (e.g.- short the breakdown below the neckline and/or the backtest of the necklines from below with stops somewhat above the necklines if they are impulsively recovered).
I’ve been largely MIA in the trading room while trying to stay on top of some very rapidly changing technicals on the equity market, precious metals, Treasuries & various commodities but once things slow down a bit, I will pick up the frequency of posting active trading opps like these in the trading room once again. Thx for your feedback.