I’ve spent the better part of the day working on preparing & recording a video providing trade ideas & analysis of over a dozen commodities via ETFs, ETNs, & futures as part of the recent series covering potential trading & investing opportunities among various assets classes. That video is uploading now & should be posted shortly.
Until then, I wanted to share some potentially significant support levels on SPY & QQQ. I’m on watch for (and favoring) a break below this uptrend line + the 250.50 target (now support) to trigger the next tradable pullback in SPY. 30-minute chart below.
SPY 30m 2 March 25th
QQQ is starting to crack below its comparable uptrend line after hitting T2 with a break back down below that level (185.46) likely to spark a deeper sell-off with a minimum target of roughly 183. 30-minute chart below.
QQQ 30m 2 March 25th
Remember; No breakdown (of both the trendlines & price support levels just below), no sell signal.