QQQ hit my final & max. bounce target, to the exact cent with a high of 192.72 before reversing to close just below that key resistance level. As such, I view this as a very objective level to start scaling back into swing short positions, including the after-hours trading session today. 30-minute chart below.
QQQ 30m 3 March 26th
SPY made a nearly-perfect hit & close of less than 2/10ths of 1% above my 2nd and preferred target. Preferred, meaning that I can’t make a strong enough case based on the technicals to rule out a continued move up to T3 although I favor this as possibly marking the end of the bear market rally & at the very least, an objective level to start adding back swing short positions for a tradable pullback to at least the two support/target levels indicated by the arrow breaks below.
SPY 30m 3 March 26th
IWM continued to ride up the lower (secondary/BOD or benefit-of-the-doubt) trendline all day, closing just shy of T3 although I suspect this may be the end of the run with both QQQ & SPY rallying into their respective price targets just before the close today. Whether or not that proves to be the case, not a bad time to tighten up stops if still long IWM & holding out for T3 around the 120.00 level.
IWM 30m 3 March 26th
The USO long trade briefly clipped the suggested stop so I’ll post an update later today or tomorrow on that along with the other previous long swing trades that already hit their final target or suggested stop but have yet to be reassigned from the Active Trades category to Completed Trades archives.