I’m back at my desk after the weekend + Monday trip & just wanted to share that there hasn’t been any change in the technical posture nor my outlook for the major stock index ETFs (QQQ & SPY) or futures (/NQ & /ES) following last week’s break of this key support & Monday’s/today’s backtest offering an objective short entry or add-on, depsite Trump’s latest TACO yesterday morning. Previous (Friday’s) & updated 2-year daily charts of /NQ & /ES below. Additionally, yesterday’s TACO-pop was also a backtest (& objective shorting opp) of the 200-day MA’s as well.
NQ daily March 20th
NQ daily March 24th
ES daily March 20th
ES daily March 24th
Should anything material change in the technicals, fundamentals, or my near-term outlook for the stock market, I will do my best to communicate my thoughts asap.