SPY made the typical reaction off the initial tag of the key 410.39 support level earlier today & now offers an objective short entry here at the bottom of the bounce target zone & up to but not above the top of the zone (top of today’s gap). 60-minute chart below.
SPY 60m 2 May 11th
QQQ minimum bounce target of 324.32 has now been reached, thereby providing an objective time to book profits on any longs reversed into earlier today and/or reverse back short here and/or up to the 327ish resistance level (top of expected bounce zone). 60-minute chart below.
QQQ 60m 2 May 11th
Likewise, /NQ has bounced back to the bottom of the 12286-13383 resistance/bounce target zone, thereby providing an objective level to close out any bounce long trades and/or go short again. One could also wait until /ES & SPY take out today’s lows (those key support levels) before adding to or initiating a new short position.
NQ 60m May 11th
/RTY (Russell 2000 Small-Cap futures) hit & bounced off the 2159 support earlier & has now bounced back to the 2204 resistance level offering an objective re-entry or new short here and/or on any more upside to the 2222 resistance level as well as a potential backtest of the primary uptrend line on the IWM daily chart. 60-minute chart below.
RTY 60m May 11th