SPY (once again) testing the 543.48 support with the next sell signal still to come on a solid break and/or 60-minute close below it whether we bounce off this level once more (likely IMO) or not.
SPY 60m 2 June 24th
/ES (once again) testing the 5520.50 support with the next sell signal still to come on a solid break and/or 60m close below it.
ES 60m 2 June 24th
QQQ cracking below the 475.46 minor support although SPY, /ES, /NQ, & NVDA are all currently testing support.
QQQ 60m 2 June 24th
/NQ has fallen to the 19770 target/support with the next sell signal to come on a solid break and/or 60m close below it. Should these support levels hold for now, any kickback to the 19928ish resistance would also offer an objective add-on.
NQ 60m 2 June 24th
NVDA still testing the top of the min. target/support zone. Still favoring more downside to at least the 60m uptrend line while a pop above this minor downtrend line would likely spark a bounce back up to the 124.50ish level, providing another objective short entry or add-on.
NVDA 60m 3 June 24th
Bottom line: The major stock indices & the most important (by far) stock are all currently at support following their biggest drops in a while so the odds for the dip-buyers to step in here & produce a bounce (but likely small & swift) are decent; Not great but decent.
Active & nimble traders might opt to cover (shorts) & reverse long here although my preference is to sit tight & ride out any counter-trend bounces which, IMO, are likely to get sold into just as they start to look convincing to the masses. Although I didn’t add it to the chart above, NVDA also has a second resistance level which would provide an objective short entry or add-on around 130. Those that shorted the bearish engulfing candles last week could also lower stops to just above that level to assure a breakeven or small profit.