QQQ Momentum is back -- 15% rally?
Diupdate
It looks like momentum is back and QQQ is getting ready to break out of the trading channel. Based on the COVID rally, I think we have a chance to add another 15%.
Catatan
Gaped up this morning to above resistance line and sold back down to end the day right on it. Tomorrow will tell us if resistance wins again or the market has enough momentum to stay above. If we can hold above tomorrow with a follow through on Monday, then I expect the bulls to rally hard towards my estimated 15%.Here is price on the 2h.
Catatan
Resistance still holding, for now.Catatan
Monday morning and pullback from resistance.Catatan
Tuesday 4/2 and the market sure is indecisive. Still looking for some news to swing it one way or the other.Catatan
Catatan
Ouch. This may be a sign of a bigger pullback. It could just be a set up for another run to break resistance, or the market has finally run out of steam.Catatan
Short of a run at the end of the day, this is still a lower high. Right now it was rejected off the center line of the purple trading channel.Catatan
End Friday with a small pull back in the afternoon. Catatan
Catatan
Still updating this post. Here is what I see today on Wed 4/10. Lower-highs, but higher-lows.Catatan
Triangle still in place.Catatan
End of week and still in the triangle with lower highs and higher lows.Catatan
QQQ gives it up with a bad day today and marks a lower low.Catatan
Probably time to start a new Idea, so this will be the last one here. A lot of lines, but some possible near-term bottoms.
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