QQQ gave me that marginal & larger divergent high I was looking for in today’s video so chart indicate the near-term trend likely to flip from bullish to bearish over with a red close tomorrow. 15-minute chart below.
QQQ 15m March 7th
Active traders that shorted a breakdown below the short-term uptrend line on the 5-minute chart of /NQ also covered in today’s video are good for a quick ½% profit so far (and still going as I type) & could either set stops somewhat above today’s highs to allow for the potential or one final stop raid (unlikely IMO but certainly possible) or lower stops to entry to assure a breakeven, at worst, on the trade. 5-minute chart of /NQ below.
NQ 5m March 7th
I had intended to cover Treasuries in today’s video but forgot. Despite IEF creeping back into my green zone (by just over ½%), IEF parked just shy of decent resistance on the daily chart which comes in around 95.40 with $TNX (the 10-yr Treasury yield, or simply the inverse of IEF) parking on pretty decent support where the odds for a reaction are good IMO. As such, I would expect both stocks & bonds down tomorrow unless the divergences & support/resistance levels are taken out.
$TNX daily March 7th