Aided by the expected post-earnings drops on NFLX & TSLA, the /NQ (Nasdaq 100) short pullback trade just hit the first price target on the 60-minute time frame with a reaction likely before the next leg down. My current preferred bounce target zone is from 15825-15900 on /NQ for active traders looking to reverse from short to long to attempt to game a bounce before reversing back to short.
I am also extending the max. target for those wanting to allow for the potential for this quick pullback trade to morph into an intermediate-term swing trade to just above the 14432 support at this time in anticipate of a breakdown below the 60-minute primary uptrend line. Previous (Tuesday) & updated 60-minute charts below.
NQ 60m July 18th
NQ 60m July 20th