/NQ (Nasdaq 100 futures, as well as QQQ) are starting the day right where we started yesterday with another objective short entry with QQQ & /NQ at resistance with negative divergences on the 60-minute time frames. 60-minute chart below.
NQ 60m Jan 27th
Zooming out to the daily time frame, QQQ is still trading at the primary (BOD) downtrend line & bottom of the ‘most likely’ bounce target zone from the Oct lows, offering another objective time to start scaling into swing shorts as it back in Nov-Dec before the ~13% drop, with objective add-ons up to but not above the top of that initial bounce target zone. Of course, I’m just highlighting what appears to be objective levels for swing/trend traders to scale back into short positions while my personal preference, as recently stated, remains to wait until after AAPL, AMZN, & GOOGL report earnings next Thursday to see if the market gives us some better visibility as to where it wants to go from there.
QQQ daily Jan 27th