The QQQ (Nasdaq 100 ETF) swing trade has hit the second price target (T2), where the odds for a reaction are elevated before the next leg down. The profit for this trade depends on one’s average entry price, as multiple objective short entries, add-ons, and/or re-entries have been highlighted since the Nasdaq was topping over the past 6+ months.
While a solid break & close below T2 (556.90ish support) will increase the odds of T3 being hit soon, I am currently leaning towards a snapback rally with a max bounce target around the roughly intersecting 200-MA’s, bottom of trading range & downtrend line area before the next leg down. However, the RSOTC Stock Market Crash Warning remains in Effect for now, with the odds higher today than when the status was upgraded from a Crash WATCH to WARNING just over a week ago in this post on March 19th.
As such, any attempts by active traders to game a counter-trend bounce off this support level should be managed with the appropriate stops in place. Longer-term, less active swing & trend traders might opt to sit tight on swing/trend short positions (with wider stops in place) while riding out any counter-trend bounces, according to their trading plan. Previous & updated daily charts below.
QQQ daily Nov 10th
QQQ daily Dec 4th
QQQ daily Feb 6th
QQQ daily Feb 26th
QQQ daily March 20th
QQQ daily March 30th
Note: The majority of objective short entries, re-entries, & add-ons were highlighted in numerous videos since Q4 2025. Also, as per today’s previous video, any substantial (3%+) rally in the stock market will likely depend on a commensurate pullback in crude oil prices due to the near lock-step negative correlation between the two in recent weeks.