QQQ deja vu: Starting the day at the same 372ish support with positive divergences, just like yesterday. Primary & alt. scenarios remain the same. Previous (yesterday morning) & updated 60-minute charts below.
QQQ 60m Aug 7th
QQQ 60m Aug 8th
Ditto for the S&P 500 with /ES starting today at the same 4496ish support with positive divergences, just like yesterday. Similar to the Nasdaq 100, my primary scenario has /ES (or SPY) triggering a sell signal on a solid break below the 4500ish support with an alt. scenario of a tradable bounce to the 4560 or uptrend line (backtest) resistance before the next leg down. Previous (yesterday morning) & today’s updated 60-minute charts below.
ES 60m Aug 7th
ES 60m Aug 8th