QQQ 508.30 target hit (in pre-market) with the typical reaction so far in pre-mkt. Any bounce back to the 515ish resistance and/or uptrend line off the Aug 5th lows would offer an objective add-on or re-entry for those that covered today in pre-mkt. 60-minute chart below showing pre-market trades in white.
QQQ 60m Dec 20th
/NQ counter-trend bounce would be likely if & when it makes a solid break out above this steep bullish falling wedge & divergent low (60m chart). However, with /NQ & QQQ breaking down & closing below the key uptrend lines off the Aug 5th lows yesterday & following through to the downside today, triggering the more powerful sell signals, less-active (typical) swing traders might opt to sit tight on existing short positions vs. trying to game a bounce, adding either on a bounce back to any of the aforementioned resistance levels and/or on breakdowns below the next support levels below. 60-minute chart below.
NQ 60m Dec 20th
As per yesterday’s video, if the bearish engulfing candlestick that is currently in place on the weekly chart of QQQ is finalized at today’s close, that has the potential to mark a significant top & will provide an objective short entry or add-on for a long-term swing short position with a stop above this week’s candlestick.