Nice gap down in QQQ today, trapping those that chased yesterday’s rally back into resistance. Ideally (for the short/bearish case), the $NDX will remain below yesterday’s highs & close red today, going on to take out Friday’s lows (the next objective short entry or add-on to an existing short position. QQQ 60-minute chart (with pre-market trades in white) below.
QQQ 60m Oct 14th
Previous & updated 60-minute charts of /NQ with Friday’s initial sell signal (primary uptrend line/bearish rising wedge breakdown) and hits of my 1st two price targets, followed by yesterday’s chart (highlighting the objective re-entry, add-on, or new short entry for those that missed Friday’s sell signal), and updated chart with the next sell signals & price targets denoted at arrow breaks.
NQ 60m Oct 10th
NQ 60m Oct 13th
NQ 60m Oct 14th
This daily chart of /NQ below has some longer-term swing & trend targets, for less active traders that prefer futures (/MNQ or /NQ). Both /NQ & QQQ still offer objective short entries for longer-term swing & trend traders with a relatively tight stop (and excellent R/R, should any or all of the lower targets on this chart be hit) with a stop somewhat above the recent highs (bearish engulfing candles on QQQ daily & weekly charts). QQQ long-term swing/trend targets remain as previously posted on the weekly chart.
NQ daily Oct 14th