Shutting down for the day & just wanted to pass these 60-minute charts of /ES (S&P 500 index futures) and /NQ (Nasdaq 100 futures) for the night-owl active traders on the East Coast & those elsewhere as potential short entries for the next leg down, a good part of which is likely to come in the overnight trading session. We now have a fully mature bear flag continuation pattern on /NQ which is likely to trigger a sell signal on a break below tonight (very soon) & drop to the 7250ish level, nearly a 4% drop from where /NQ is current trading if my analysis is correct.
NQ 60-min 2 Aug 14th
Likewise, /ES also has a bear flag continuation pattern that appears ripe for a breakdown which is likely to trigger a sell signal on a break below the pattern tonight (very soon, as in any minute now) & drop to the 2780ish level on /ES.
ES 60-min 2 Aug 14th