QQQ Completing Down-Leg?

(corrected version WITH my charts attached)...

Good Thursday Morning, MPtraders!  February 23, 2023 (including today, 4 Trading Days Remaining in February)-- Pre-Market Update: ES and SPY are up 0.50% while QQQ is up 1%, owing mainly to the explosive upside reaction to NVDA's earnings released last evening...

ES did respond late yesterday to an oversold condition accompanied by positive momentum divergences in my intraday setup work, BUT the strength off of a convergence of important support coordinates clustered between 3980 (200 DMA) and 3997 (Lower BBnd Line) has been shall we say, less than impressive so far. ES still needs to claw its way above 4025 to trigger higher projections into the 4055 to 4090 target zone (see my attached Hourly Chart). Perhaps one of this AM's economic data points will stimulate upside follow-through from yesterday's pivot off of 3980? In any case, bulls do NOT want to see ES break and sustain beneath 3980 (because it puts 3800 on the table as a downside objective)... Last is 4018.25

SPY naturally has a similar setup and profile as ES, and needs to climb above 401.15 for starters to trigger a run at 404.00-404.50 initially, and possibly to fill Monday's down-gap from 405.65 to 407.25. Only a failure to sustain above 401.15 followed by roll over and press beneath yest's low at 397.02 will be problematic, and will point SPY to 395 at a minimum, and if violated, then to 390-392... Last is 400.47...

Finally, as for the QQQ, it happens to exhibit the most dynamic pattern at the moment, meaning that yest's low at 292.56 has the right look of a completed nearest term downleg from the prior rally peak at 309.97 (2/16/23), and as such, also might have finished the larger corrective process off of the 2/02/23 high at 313.66-- ahead of another potent upleg that propels QQQ to new recovery high territory into the 314.60-317.20 target zone. For THAT to happen, QQQ needs to climb above initial resistance from 302 to 304 for starters. The inability of QQQ to challenge 302-304, or a bout of weakness that violates yest's low at 292.56 will relegate my relatively "bullish" near term scenario invalid. Last is 297.10... 

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