Still favoring the near-term scenario laid out yesterday:
-Drop to *uptrend line (check);
-Bounce off uptrend line (check);
-Rally up to 17412ish/minor trendline backtest followed by a reversal (pending)
Post-AAPL/AMZN dump (pending)
*primary uptrend line was added in yesterday’s video after the screenshot (first chart) below was posted in comment section.
Previous (yesterday) & updated 60-minute charts below.
NQ-60m-Jan-31st
NQ 60m Feb 1st
QQQ 60-minute & 5-minute charts with “micro” levels or potential near-term targets for active traders that might want to try and thread the needle before AAPL & AMZN report tonight.
QQQ 60m Feb 1st
QQQ 5m Feb 1st
Typical swing & trend traders shouldn’t be concerned with trying to game the minor zigs & zags on the short-term intrday charts, rather focus on key developments on the 60-minute & especially the daily & weekly charts.
Active traders that did cover a short & reverse long when /NQ & QQQ fell to that primary uptrend line on the 60-minute charts might want to consider a stop somewhat below it, at least on a 60-minute closing basis.