QQQ still offers an objective long entry (as highlighted yesterday) with stops somewhat below the recent lows for those looking to game a potential counter-trend rally. Potential bounce targets & suggested stop shown on the 60-minute chart below.
QQQ 60m Sept 28th
As stated yesterday, I still maintain my intermediate & longer-term bearish bias although I did cover my index shorts & reverse long (yesterday) and added to those longs after the open today. Should the case for a more significant rally start to firm up, I may add additional bounce targets, including the marginal new high scenario. Should the market reverse & make a solid break and/or close below the recent lows, I will share my thoughts asap on whether it seems ideal to reverse back to short or not.