/NQ & QQQ offer yet another objective shorting opp with stops somewhat above and/or chance to close longs taken at the bottom of the range on Tuesday’s drop. I’ve also added a minor uptrend line to this 60-minute chart of /NQ which might also spark a wave of selling if taken out with conviction.
NQ 60m Oct 8th
Likewise, those expecting more upside in the Q’s could enter or add to long positions on a solid break and/or 60-minute close above the top of the range with stops somewhat below, should any breakout prove to be a whipsaw signal. It should be noted that any marginal new high soon will extend the negative divergences that were in place at the previous test of the top of this trading range, thereby increasing the chances that any breakout soon may fail. QQQ 60-minute chart below.
QQQ 60m Oct 8th