With just under an hour to go before the opening bell, we have a breakdown & backtest below the 60-minute uptrend line on /NQ. As such, this offers an objective short entry here although the sell signal on /NQ has yet to be confirmed with a breakdown on /ES at this time which decreases the chances of an /NQ short playing out until & unless /ES reverses soon as well. As such, it might be best to wait for the regular session to get under & see how both QQQ & SPY look at the time before opening (or closing) any new positions.
NQ 60m Nov 18th
/ES (S&P 500) continues to grind sideways just below the previous all-time high from Nov 9th. The odds might tilt to another marginal new high although a downside break could take /ES back to any or all of these 3 support levels (3570, 3520, & 3460) below. Again, best to wait to see how the market trades once all the players step onto the field after the opening bell today before doing much, if anything regarding the indexes.
ES 60m Nov 18th