Despite the bullish divergences in place on QQQ & most of the market-leading FAAMG stocks, I still favor more downside to T3 & possibly more, should those 60-minute positive divergences get taken out as I suspect. I’d also like to see the recently highlighted 60-minute support levels on AAPL & MSFT as well as their 60-minute divergences clearly taken out as well before considering additional targets for the QQQ swing trade.
QQQ 60m Oct 4th
If my next target on QQQ is hit soon, this will probably be the last chance to recycle back into the VXX (short-term $VIX ETN) trade for the next leg up to at least T2, for those that took profits at T1 or anyone looking for a proxy short trade on the equity markets.
VXX daily Oct 4th