/NQ (Nasdaq 100 futures) has effectively hit my 7670.50 price target posted yesterday (first chart below) with a low of 7683.25 (within 1/10th of 1% so effectively a tag of that level) so far in today in early session trading & has put in a small divergent low in doing so, setting the stage for a counter-trend rally. Should /ES continue down to the top of the Aug trading range today, /NQ will likely continue down towards the 7603ish support before a meaningful reversal so I can’t rule out another leg down shortly before or after the open today although at least a small rally is likely off these levels & possibly much more. Previous & updated 60-minute charts below.


/RTY (Russell 2000 Small-Cap futures) has also effectively hit my 1528.50 price target at the same time NQ hit the 7670.50ish target while putting in a small divergent low as well, which also increases the odds of a bounce off that support level. 60-minute charts below.

While /NQ & /RTY hit those support levels, /ES (S&P 500 futures) also hit the 2957.50 support with a divergent low as well although /ES is still shy of my preferred initial swing target of the 2939-2946 support zone (top of the August trading range). As such, I wouldn’t be surprised to see any pre-market rally off these support levels get sold into shortly before or after the open today. Updates, along with the SPY, QQQ & IWM charts will follow once the regular trading session is underway.