/NQ (Nasdaq 100 futures) made an impulsive breakdown below the uptrend line/sell signal that was highlighted in yesterday’s video around midnight last night. That sell signal was nearly immediately followed up with an additional sell signal on the impulsive break below the aforementioned key 11534 support level.
During the pre-market trading session this morning, /NQ consolidated in what appears to be a bear flag continuation pattern. As such, other than a brief whipsaw, a break below both the bear flag & the previous lows will likely trigger the next wave of impulsive selling although as I often say; “Support is support until & unless broken”. 60-minute chart below.
NQ 60m June 16th
QQQ managed to backfill most of the gap yesterday & with /NQ going on to break down below the 60-minute uptrend line & triggering a sell signal late yesterday evening. Daily chart with the pre-market session trades reflected by the white candlestick, which is just above the previous lows as we head into the opening bell.
QQQ daily June 16th
Assuming we get the next sell signals mentioned above, the odds for a relative swift move down to my next swing/trend targets on the weekly charts will increase substantially.