QQQ & /NQ (Nasdaq 100 ETF & futures) broke down below the primary uptrend line (60-minute chart) & is currently backtesting the trendline from below. As such, QQQ & /NQ offer objective short entries around current levels with the appropriate stops above based on one’s preferred price target(s).
NQ 60m July 16th
QQQ 60m July 16th
Likewise, /ES (S&P 500 futures) is cracking below the 4345 minor support, offering an objective short here and/or on a break below yesterday’s lows (higher probability entry/less favorable entry price). One could also short SPY or go long (buy) SH (-1x S&P500 ETF, SDS (-2x), or SPXS (-3x).
ES 60m July 16th