The 146.45 area is the first support on QQQ in which we already hit & bounced off so far today. Next support is the minor (white) trendline followed by the primary TL & then the 142.32ish level. Primary scenario outlined on the daily chart (first) below followed by the 60-minute chart of the Q’s.

For futures traders, the 6017 level on /NQ is comparable to the 146.44 support level on QQQ. Awating a solid break & 60-minute close below that level for the next sell signal on the NQ E-minis.

NQ 60-minute Oct 25th

NQ 60-minute Oct 25th

 

So far, we had two days (pending a red close today) of confirmation to Monday’s bearish engulfing candles on both SPY & QQQ. Potential price targets for SPY shown in green. SPY daily chart:

SPY daily Oct 25th

SPY daily Oct 25th

SPY has made an impulsive thrust down to the bottom of the 60-min price channel that has been highlighted in the recent updates. Next sell signal to come on an impulsive break and/or 60-min close below the channel. Minor support at 253.87 with the next price target (actual support) at 250.26. 13/33-ema trend indicator crossed to bearish, PPO trend indicator still bullish but pending a bearish cross of the 9-ema below the zero line.

SPY 60-minute Oct 25th

SPY 60-minute Oct 25th