Nothing new to report on QQQ as the negative divergences continue to extend following yesterday’s gap above the 235 resistance level although any downside from here will “confirm” the divergences via a bearish crossover on the PPO while the uptrend line off the Oct 3rd low + 224.70 support remains the target zone for the next correction.
QQQ 60m Feb 20th
SPY has a nearly identical technical posture to QQQ with the current divergences to be ‘confirmed’ via a bearish PPO crossover on any downside from here & the first decent near-term support at 335.50.
SPY 60m Feb 20th
The small-caps continue to grind higher with divergences building & IWM just reversing off the 168 minor support level. While the trend remains bullish for now, a break below today’s low of 167.84 would likely trigger a move down to any or all of the marked support levels on this 60-minute chart.
IWM 60m Feb 20th