Both QQQ & /NQ have now hit what I’ve been referring to as my “initial swing targets” since the June 16th bottom when I posted covering all swing/trend shorts & reversing to a long/bullish positioning. Again, this is only my initial swing target, where the odds for a reaction are likely although I’ve seen nothing but one checkmark after for the bullish case in recent weeks & still maintain my longer-term swing targets around the primary downtrend line & 200-day MA’s in the coming weeks to months.
QQQ daily 2 July 20th
NQ 60m July 20th
Updated 60-minute charts of QQQ & /NQ below. 305 was the initial preferred swing target on QQQ which has hit a high of 303.61 so far today, well within 1% of that 305 resistance (and I always prefer to sell longs slightly below the actual resistance level that I’m targeting in case the sellers step in early). /NQ has made a full tag of the comparable 12452.25 resistance level with those resistance levels defining the bottom of the trading ranges on both QQQ & /NQ during the late-May to early-June consolidation range. Full short in my trading account here with pullback targets for the short as well as re-entry points for the partial swing/trend longs that I just closed out here TBD (although I mentioned my min. targets in the previous post earlier today).