This near-term oversold snapback rally to the former S1 support (now resistance) + 61.8% Fibonacci retracement level offers on /NQ (Nasdaq 100 futures) an objective re-entry for those that booked profits at T2 and/or a new short entry or add-on . Friday’s & updated 60-minute charts below.
NQ 60m Oct 10th
NQ 60m Oct 13th
Ditto for QQQ on this backtest of that 601.65 former support, now resistance level while still solidly below the primary uptrend line that was taken out on Friday. Previous (Friday’s) & updated 60-minute chart with the pre-market trades in white, below.
QQQ 60m Oct 10th
QQQ 60m Oct 13th