I’ll be away from my desk until early afternoon but just wanted to get a post out before I left. Barring a reversal & solid recovery back above the trendline after the opening bell today, this breakdown below the 60m rising wedge is likely to be the catalyst for the next leg down in QQQ. Any backtest of the wedge from below will also offer an objective short entry with a stop somewhat above the trendline.
QQQ 60m June 12th
/NQ is also trading below the minor uptrend line in pre-mkt, triggering a sell signal & objective short entry with stops on a solid recovery and/or 60m close back above it.
NQ 60m June 12th