QQQ has triggered a sell signal on a break below the 247ish support with a drop of at least 7.5% (to 229.85) & possible 12% (223ish) or more likely in the coming days to weeks unless QQQ manages to recover a good part of today’s losses soon via a stick save (sharp reversal/rally into the close to print a daily close back above the 247 level. 60-minute chart below.

QQQ 60m June 24th

QQQ 60m June 24th

Likewise, /NQ also triggered a sell on the impulsive break below /NQ 10107 with the Nasdaq 100 futures now coming up on the 10000ish support. Both levels/potential sell signals on QQQ & /NQ were highlighted (in advance) in recent videos. However, it should also be noted that most of the market-leading FAAMG stocks are still trading above their respective uptrend lines for now. As such, the odds of that potential 7.5% -12% drop will increase substantially, should we soon get confirming sell signals on the majority of the FAAMG stocks.

NQ 60m June 24th

NQ 60m June 24th

While the Nasdaq 100 has triggered a sell signal, a solid break and/or 60-minute close below this recent trading range would likely be the catalyst for a drop of 6.5% (to 286.33) or more in SPY. Essentially, we have what appears to be a decent sell signal on the $NDX although far from an “all-in” or “all-clear” sell signal until & unless most of the market-leading mega-caps stocks soon trigger some solid sell signals as well.

SPY 60m June 24th

SPY 60m June 24th

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