Any idea how high the Q’s are going to bounce? Thanks,

Here’s my daily chart of MARA with price targets. Of course, just like MSTR, for this one to play out, it will take Bitcoin rallying from here (or not too much more downside first).

If Bitcoin does fall to my next downside bear market target of 48670, then I will revisit MARA, MSTR, RIOT, & the other Bitcoin proxy trades as potential longs at that time.

Randy, thank you for the charts and your prompt response.

Sure, here are my 120m charts for /NQ & /ES, but keep in mind, I’m starting to shift more of my focus to the daily charts of QQQ & SPY in light of the recent sell signals/check marks on the Mag 8 stocks

As I type (7:41 pm ET), QQQ has fallen to & been testing that key 589 support, which is the bottom of that multi-month trading range (box on my daily charts), T1 (which was already hit in late Nov, and the key Oct 10th lows.

Bottom line: The odds for one last bounce off this key support in the /NQ futures overnight & possibly into tmrw’s regular session are decent. Not great, but decent. However, if that support is clearly taken out without being regained, that could trigger another, even more powerful wave of selling down to my T2 (QQQ daily chart), or at least the 200-day MAs.

No, decent odds of an overnight & possibly into Friday bounce.. QQQ too. The Q’s fell to that key Oct 10th low/bottom of the trading range (box on my daily chart) & former T1, 589 support in the AH session, which was already hit back in late Nov (and is still trading there in AH now) so even if RTY makes a slight overshoot, it will likely bounce if QQQ makes one last hurrah off 589 (which I think has a decent chance.

However, that works the other way too. As I like to say; Support is support until & unless broken. Therefore, if the /NQ smash down through that support overnight & that breakdown holds into tomorrow’s regular trading session, IWM & just about all other things with a positive correlation to the stock market will get dragged down with it, kicking & screaming. For now, I think the odds for a bounce are decent. Not great, but decent. Remember too, the risk of an outright margin-call induced crash are ticking up with each tick down in the risk-on assets (stocks, crypto, silver, etc..).