As you can see a clear breakdown from today's high, in my analysis you would think it was either bear pennant or a bull flag, however, there are multiple points where the price came down to consolidate in a straight manner similar to other patterns but not the same. In my opinion, consolidation naturally is there for higher highs, in which a smart investor would wait til the dust settles and get in, in which you did see towards the close today. However, in this situation, i think that tomorrow, we are going to either see a further breakdown of QQQ lows headed back to 1st Support: $273.30 in the morning and towards afternoon after 11am or 1pm, see a jump. Obviously, this can go completely opposite direction of how the market goes, but just my view point on things on where things could stand. Let me know your thoughts!
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