QQQ (Nasdaq 100 ETF) will be added as an Active Short Trade on a break below 173.63 (i.e.- any print of 173.62*) *edited for typographical error*, which will have taken it below the minor uptrend line on this 60-minute chart following the recently highlighted bearish developments on the more significant daily time frame.
QQQ 60-min March 6th
The price targets for this trade are T1 at 167.10 & T2 at 161.20 with the potential for additional targets to be added, depending on how the charts develop going forward. The suggested stop is any print of 178.70 with a suggested beta-adjusted position size of 1.0.
QQQ also has minor support at 171.00 which could produce a minor reaction on the initial tag with a solid break below 171 also providing an alternative, higher-probability entry or add-on to a partial position taken here, albeit at a less favorable entry price.