The major stock indices continues to ignore the outsized drop in EUR/USD so far today although the odds still favor either stocks down and/or EUR/USD based on the recent strong positive correlation between the two. Regardless, QQQ will trigger a sell signal on a solid break below this minor uptrend line with a near-term swing target of the primary uptrend line (arrow breaks denote likely reaction points). Keep in mind if we get that sell signal today, any swing traders that take or add to an existing short position will most likely have to take it home over the weekend (with two extra days of overnight risk). 15-minute chart below.
QQQ 15m June 7th
Based in a vacuum (only looking at the charts of /NQ) the Nasdaq 100 futures contract offers an objective short entry here on this backtest of the minor uptrend line. However, it would only be prudent to wait for a break below the comparable trendline on QQQ before taking a new position. 60-minute chart below.
NQ 60m June 7th