The bounce was right on cue or ‘Q’, with QQQ reversing a mere 1 cent from my 317.60 support level (LOD 317.61) with my min. & preferred target now hit. Previous & updated 60-minute charts below.
QQQ 60m 2 May 2nd
QQQ 60m 3 May 2nd
Zooming down to the 5-minute time frame, QQQ has hit my minimum & preferred bounce target hit with slightly lower odds of about another ~0.4% upside before the next leg down.
QQQ 5m May 2nd
My preferred trading proxy, /NQ (Nasdaq 100 futures) has likewise hit my min. & preferred bounce target with slightly lower odds of a little more upside towards the 13235 resistance before the next leg down (i.e.- scale out of bounce longs back into swing shorts from 13175 up to13235). 5-minute chart below.
NQ 5m May 2nd