The scenarios laid out on the recently posted 15-minute charts of /NQ have played out to a ‘T” so far, with the 11793 bounce target capping the 4% rally off the recent lows, reversing from there & falling until the first downside target (17553) was hit, followed by the expected reaction (denoted by the arrow break), then the next & current leg down on the (expected, as per yesterday’s video) post-earnings drop in META.
NQ-15m-2-April-24th
NQ 15m 3 April 24th
NQ 15m April 25th
/NQ has now fallen to the next support/target around 17348 with the odds for a reaction elevated before the next leg down. Previous (last two posted yesterday) and updated 15-minute charts above. I will also add that I don’t expect this reaction, assuming we get one here, to be very substantial in either scope (percentage upside) and/or duration (time). There’s a decent chance the reaction might just be a brief period of consolidation on this support level until it gives way. As such, typical swing traders might opt to ride out any counter-trend rallies at this time if planning to sit tight into MSFT, AMZN, & INTC earnings tonight.