Timely exit on the QQQ bounce trade posted here yesterday at 106.64. Q's moved sideways & then lower and are currently trading at minor support. My expectation is for any reaction here to be relatively short-lived. Also note that the short-term sell signal via cross of the signal line below the zero level has just occured. Now awaiting the aforementioned 28-68ema bearish crossover for additional confirmation that a new short-term downtrend is underway.
The preferred swing target for the QQQ short trade remains 100.09 for now although T3 remains the final target at this time. Click here to view those price targets on the live, annotated daily chart of QQQ