Following the expected bounce off last week’s drop to the uptrend line/long entry for active traders, QQQ remains within basis points of last Thursday’s bounce target with thenext (swing trade) sell signal still pending a solid break or 60-minute close below the uptrend line & intersecting 421 B.O.D. support. Thursday’s and updated 60-minute charts below.
QQQ 60m Feb 1st
QQQ 60m Feb 6th
IWM (Russell 2000 Small-cap Index ETF) continues to offer objective short entries or add-ons on snap-back rallies to resistance like this bounce to 193.10ish as long as it remains below the recent failed breakout high. Daily chart below.
IWM daily Feb 6th