There’s still another 2.25% downside to the top of my min. pullback target zone & 3.75% to the bottom from current levels with QQQ trading at 278.43, down 1.35%, assuming those targets are to be hit as still favor despite the aggressive dip-buying following the open so far today. A rally back up to just below the 280.32 resistance level would offer a very objective short entry with stops set just above the recent highs Previous & updated 60-minute charts below.
QQQ 60m Sept 30th
QQQ 60m Oct 2nd
This post-opening dip-buying rally, especially on a little more upside to coincide with a rally up to just below the 280.32 resistance on QQQ would also provide another objective shorting opportunity for /NQ (Nasdaq 100 futures) with a stop somewhat above as it remains well above my minimum pullback target zone following the recent divergent high & failure at the key 11550ish resistance level. Previous & updated 60-minute charts below.
NQ 60m Sept 30th
NQ 60m Oct 2nd
Please forgive my lack of pre-market posts lately, especially on a day like today with the futures sinking earlier on the POTUS COVID-19 headlines. Apparently, I’m in that small minority in which COVID symptoms last for a month or longer as I’m probably heading into week 5. Trying to get as much rest as possible to get over it asap at which point market updates & trade ideas will return to normal as well as replies to questions & comments. Thanks for your patience.
-rp