QQQ (or /NQ) still offers an objective long exit and/or short entry here at the 473.91 min. bounce target. For simplicity, I shaded that ideal “re-shorting/book profits on longs” zone with the potential bounce targets for the rally off the recent tags of the downside swing targets in QQQ & /NQ on this 15-minute chart below.
QQQ 15m Aug 1st
At the very least, it appears /NQ or QQQ offers an objective short entry here at resistance for a quick pullback trade today as whether the buy up or sell the open, I would suspect we’ll get a bout of nervous profit taking today in front of AMZN & AAPL reporting after the close today.