Since yesterday’s close, /ES went on to breakdown & backtest the near-term uptrend line and is currently backtesting the downtrend line off the 4/29 high with the next sell signal to come on a solid break below it.
ES 60m May 19th
/NQ also went on to break down below the near-term uptrend line with next sell signal to come on a solid break below 9300. As we didn’t get impulsive selling following the breakdowns, the market could still go either way today until & unless those next support levels are taken out with conviction. I’ll follow up with some charts of QQQ & SPY after the regular trading session gets underway.
NQ 60m May 19th