QQQ was good for a last-minute pullback trade into the close following the brief momo-fueled overshoot of yesterday’s gap, kissing the midpoint of the channel (my pullback target/arrow from the previous update/60-minute chart below) at the closing bell. Previous & updated 60-minute charts below.
QQQ 60m Oct 29th.png
QQQ 60m 3 Oct 29th
QQQ 60m 4 Oct 29th
As with QQQ, /NQ reversed off when QQQ hit the bottom of yesterday’s gap & provided a quick pullback trade back down to the midpoint of the price channel. Now we wait & see how the market reacts to the big 4 FAAMG earnings reports tonight & into the regular trading session tomorrow.
NQ 60m 2 Oct 29th