Following yesterday’s rising wedge breakdown, I’m still targeting a drop to at least the 517ish level with a secondary potential target of 515 with the next sell signal to come on a solid break below the 521.17ish support on the 15-minute chart below (as covered in yesterday’s video).
Option 1 (preferred, yellow arrows): Short here on this pre-market bounce off the 512.17 support, targeting 517 and/or 515.
Option 2 (blue arrows): Wait for a solid break and/or 60m close below 521.17 to initiate or add to an existing short; less favorable (-0.4%) entry but higher probability of success.
QQQ 15m Dec 10th
For /NQ (Nasdaq 100 futures) traders, following yesterday’s minor trendline breakdown, the next sell signal on /NQ will come on a solid break below the 21417ish minor support (comparable to QQQ 521.17 support) with a more powerful (longer-term) sell signal to come on a solid break below the primary uptrend line off the Aug 5th lows. 60-minute chart below.
NQ 60m Dec 10th