/NQ (Nasdaq 100 futures) just spiked into the downtrend line off the recent highs (bounce target from last week) also putting in a small (negative) divergent high on the 60-minute time frame following this morning’s CPI release. This provide an objective short entry or add-on for a swing/trend position on /NQ, QQQ, etc… Price targets depend on one’s time frame & outlook for the equity markets although I’ve pointed out several key support levels on all the major indexes on various time frames which still need to be taken out to open the door for a much larger (10%+) drop in the market. Previous & updated 60-minute charts below.
NQ 60m Feb 10th
NQ 60m Feb 13th
NQ 60m Feb 14th