/NQ (Nasdaq 100 futures) is coming up on 7750 + the intersecting downtrend line which is significant resistance that would likely trigger a rally up to the 7818 area if taken out with conviction.
NQ 60-min Aug 21st
Likewise, 2936 + the downtrend line is key resistance in /ES (S&P 500 futures) that would likely spark a rally if taken out. Based on the current bearish technical posture of the primary flight-to-safety assets, gold & US Treasury bonds, I’d have to say that I am now leaning towards the breakout (near-term bullish) stop-raid scenario laid out in last night’s video although we should have a better idea shortly after the market opens at 9:30 am today & all the players step onto the field.
ES 60-min Aug 21st