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

NQ 60m July 16th

QQQ 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

ES 60m July 16th