The previously discussed short-term trend indicators on the QQQ 15-min chart continue to remain bullish since Monday’s S/T buy signals. Awaiting zero line crosses on both + break below uptrend for next sell signal, which is likely to come as soon as today or tomorrow.

 

A trigger a all three of the short-term sell signals (MACD signal line cross below zero, 28 period ema cross below 68 ema, & prices breaking below this bearish rising wedge pattern) will likely be the catalyst for the next wave of selling in the QQQ as well as the other US stock indices. Additional confirmation will come on similar sell signals (using the same trend indicators & comparable trendline breaks) on the SPY, IWM, & MDY, some of which have already occurred.