The /NQ & QQQ short trade has hit T1 for a quick 2% gain. Consider booking partial or full profits and/or lowering stops if holding out for T2 and/or T3. While the odds for a minor reaction here are decent (not great or good, just decent), bounce or no bounce I still favor more downside to at least T3 with the potential for additional price targets to be added, depending on how the charts & price action develop going forward. Initial & updated 15-minute charts below.
NQ 15m June 5th
NQ 15m June 7th
QQQ 15m June 5th
QQQ 15m 2 June 7th
Remember: Price targets shown on the charts are the actual support levels were a reaction is likely. Always best to cover shorts slightly above the support level you are targeting in case the buyers step in early. Also, support is support until broken. As such, solid breaks & especially 60-minute closes below the T1 support levels on both /NQ & QQQ will increase the odds of a move down to the next target(s).