Here are some potential swing targets on QQQ that I shared in the trading room a couple of weeks ago, with T1 very likely to be hit soon as QQQ has made an impulsive break down below the recent bear flag pattern/2-day consolidation range.
QQQ daily Oct 10th
On a somewhat related note, I wanted to share this chart that indicates that lumber prices have historically peaked shortly before the economy & may prove to be another leading indicator this time around.
source: WSJ.com (who quoted the source as @Not_Jim_Cramer who quote the source as Lohman Economics… just trying to give credit where credit is due).
*Note, the screenshot of the chart above was taken at 9:53am ET, with price moving slightly lower since. The server for the website had went down for about 30 minutes, delaying the publishing of this post.