Still favoring a tradable bounce off yesterday’s tag of T4 on the /NQ daily chart before the next leg down to the additional targets as long as /NQ & QQQ remain above their respective price targets/support levels that were hit yesterday, ideally on a daily closing basis as a brief intraday stop-clearing dip below is certainly a possibility although I don’t suspect that will happen (market likely to rally after the opening bell today, IMO, but I will allow a brief dip below yesterday’s lows if it happens before stopping out).
NQ daily July 26th
Zooming down to the 15-minute charts, still favoring a bounce to at least the19660ish target with dotted arrow potential additional targets, assuming /NQ remains above yesterday’s lows & depending on how the charts develop. A break above 19390 is likely to spark a quick rally up to the initial target.
NQ 15m July 26th
Likewise, I’m still favoring a bounce to at least the 473.90ish target with dotted arrow potential additional targets, assuming QQQ remains above yesterday’s lows & depending on how the charts develop. A break above 467.83ish is likely to spark a quick rally up to the initial target.
QQQ 15m July 26th