For more active traders, here’s a one-minute chart of the QQQ showing a recently broken rising wedge pattern with a few support levels below to watch for on any pullback. Interesting how the 38.2% fib retracement lines right up with that large volume at price bar which lies at today’s opening gap price. Definitely and important level to watch should the QQQ reverse anytime this week as a move below that level would wipe out today’s gains and be very bearish from a technical perspective. For those receiving e-mail post notifications that do not wish to receive the short-term intraday charts, you can use the “change your settings/unsubcribe” link to exclude the Intraday Market Analysis category.
