I’ve listed a few potential price targets on this QQQ 120-minute chart. QQQ is on watch for a potential official short trade as it currently tests the primary uptrend line off the Dec 24th lows. We don’t have a decent sell signal yet but I would suspect that a break below today’s low of 188.59 might do the trick & especially a break below the 187.60ish minor support.
QQQ 120-min April 26th
I just wanted to pass these potential targets along in advance for those interested as I suspect if & when the Q’s & tech breaks, we could get a sudden rush for the exits. Until then, more of the same as XLK also only briefly dipped below it’s primary uptrend line today, also snapping right back above it without a solid & impulsive move below (i.e.- no sell signal yet, just intraday noise).
To be clear, this is an unofficial trade setup at this time, not an official trade nor an actionable trade idea, simply a potential trade idea awaiting a sell signal to trigger an entry. Should this become an official trade, suggested stops & position size adjustments will follow.