/NQ (Nasdaq 100 futures) is approaching the 1st near-term price target after the buy signal was triggered last night on the breakout above the 5-min bullish falling wedge patterns that were posted on /NQ & /ES yesterday (first chart below).
NQ 5m May 9th
NQ 5m May 10th
Likewise, /ES (S&P 500 futures) is also approaching the 1st target from the 5-minute chart (first below) posted yesterday after it also triggered a near-term buy signal last night on the solid breakout above the 5-minute bullish falling wedge patterns posted yesterday. For active traders that reversed from short to long could set a sell limit order to reverse back to short slightly below the actual resistance levels (/NQ 12556.50 & /ES 4061.75) to game a pullback or to re-enter a swing short if expecting a break of the 2nd price targets on QQQ & SPY that we parked on yesterday. I typically sell longs and/or enter shorts just shy of the resistance level that I expect a reversal on when rallying from below in case the sellers step in early.
ES 5m May 9th
ES 5m May 10th