Wash. Rinse. Repeat: Just like the sell signal triggered on Oct 10th, which was followed by the largest single-day drop since the crash into the April lows, /NQ (or QQQ) offers an objective short entry on this steep 60-minute, post-FOMC rate cut, rising wedge/trendline breakdown with stops commensurate with one’s preferred price target(s). Previous (setup, breakdown & final 60-minute price target hit) & updated 60-minute chart, with new price targets, below.
NQ 60m Oct 8th
NQ 60m Oct 10th
NQ-60m-2-Oct-10th
NQ 60m Oct 29th
An alternative entry (or add-on to an existing or starter position taken here) could come after Powell’s dog & pony show (2:30pm EST press conference), assuming /NQ remains below the uptrend line. QQQ chart with targets will follow in the comment section below this post asap.