/ES & /NQ both drifted unimpulsively below those 60-min trendlines in the overnight/early morning session & remain below for now with the PPO on both turning back up just above the zero line (support + delineation between bullish & bearish trend) so at this point, watch for either a backtests of the TL’s followed by an impulsive rejection or a break below the minor support level marked with dotted lines for potential near-term sell signals.
Ditto for QQQ & SPY: non-impulsive breakdowns followed by a kickback rally that is bringing them both up for a backtest of those trendlines while both are overbought on the 60-minute time frame & the PPO divergences still in place by a hair.
With the momentum still to the upside & the recent breakouts far from impulsive (which would have helped to confirm them) best to hold off on shorting any index ETFs or futures until/unless we get a higher-probability sell signal on either these 60-minute charts or ideally, on the daily charts.
On an unrelated note, the PPLT (Platinum ETF) has hit T2, the final price target, today. An updated chart on that trade will be posted soon along with the other recently completed trades that need to be removed from the Active Trades category.