Yes, QQQ LOD in pre-mkt 393.66 & we could still take another thrust down today to get closer to T2 (which is shown as 392.07) on my QQQ 60m chart. However… first, I often state that the price targets I list on my charts are the actually support level (for short trades) where I am targeting although I always recommend to cover slightly above the actual support level in case the buyers step in early (Ditto for closing longs just shy of the actual resistance level).

Second, T2 was hit on /NQ & I also often say that’s why I post & follow both the index ETFs AND futures charts & will typically close or reverse a position when the first of EITHER hits its comparable target (as the subset of traders using futures or ETFs could step in & cause the turn). It wouldn’t make any sense to try to milk out the tiny amount of meat left on the bone to stay short, for example, on QQQ today when /NQ hit T2 & QQQ was a hair above (less than 1/2 of 1% above 392.07 at today’s pre-mkt low).

Thx for sharing that. My stops are usually tactically set at what I suspect is just far enough below a support (for shorts) or resistance (for longs) level to be out of range of a stop raid but also inline with my preferred R/R on the trade (i.e.- depending on how far my price target(s) is/are).

Yes, QQQ 404 is my current ‘preferred’ bounce target that I would put very good odds of being hit soon. Max potential target 409ish with another potential target/resistance level around 407.50

Randy are the targets for QQQ the same as in your post I believe yesterday. I think it was around 404

I don’t know how you decide your stops But I use an ATR. Close – (1.5*ATR(14))

Then you milked most of the relatively big 2024 drop in QQQ (assuming you entered on last Friday’s sell signal or the previous one).

I will reiterated what I said in the post above about a high probability of a tradable bounce in /NQ or QQQ off the 2nd price targets that were just hit in pre-market. No guarantees but I think an /NQ (or QQQ, QLD, TQQQ, etc..) long here with a stops on a solid 60-min close below QQQ 392 seems very objective & should be good for a quick ~3% bounce trade. JMHO