QQQ & /NQ (Nasdaq 100 futures) have both fallen to support levels which are the first & minimum targets while SPY & /ES (S&P 500 E-mini futures) as still comfortable above their first target levels. 60-minute charts below. click on first chart to expand, then click on right of chart to advance to the next expanded chart.
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- QQQ 60-min Sept 6th
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- NQ 60-min Sept 6th
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- SPY 60-min Sept 6th
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- ES 60-min Sept 6th
While the Nasdaq 100 could certainly continue lower right through these levels, the odds of at least a minor reaction, possibly more, off these fairly decent support levels in QQQ & /NQ are decent. Should QQQ make a solid break & daily close below the yellow uptrend line off the early April lows, that would likely open to the door for a move down to the 178 level & possibly the orange primary uptrend line and/or the 169.60ish support level, which are currently intersecting.
QQQ daily Sept 6th