While still an unofficial trade idea, QQQ has just hit the second unadjusted price target*, T2 at 186.46, where a reaction is likely, thereby providing an objective time to book partial or full profits and/or raise stops if holding out for additional gains. Previous & updated 30-minute charts below.
- QQQ 30m 2 March 24th
- QQQ 30m March 25th
Likewise, SPY (also an unofficial trade) has effectively hit the T1 level again (it was already hit once in the pre-market session on March 20th), where the odds for a reversal are also decent. Previous & updated 30-minute charts below.
- SPY 30m 2 March 24th
- SPY 30m March 25th
*As unofficial trades, these are unadjusted targets, or the actual resistance levels where are reaction is likely so best to set your sell limit order (i.e.- book profits) slightly below as reversals just shy of resistance are common. All official trade provide ‘adjusted’ price targets.