Following yesterday’s solid sell signals, /NQ & QQQ have just hit their first price targets in pre-market for a quick ~2% gain. Next sell signal to come on a solid break and/or 60-minute/120-minute close below the primary uptrend line. Previous (yesterday) 120-minute /NQ & 60-minute QQQ charts below.
NQ 120m Feb 12th
NQ 120m Feb 13th
QQQ 60m Feb 12th
QQQ-60m-2-Feb-12th
QQQ 60m Feb 13th
IEF (7-10 yr Treasury bond ETF) has solidly entered my yellow zone on this morning’s hot CPI print. Barring a recovery back into the green zone, this is where the market will start to take note of rising yields, accelerating the slide in stocks if & as IEF continues lower.
IEF 60m Feb 16th