QQQ broke down below the bear flag continuation pattern yesterday shortly below the close. Pre-market trading currently indicates a gap up that would backtest the flag from below so on watch for any failure there followed by an impulsive move lower, especially below the 129.75 support level. That bear flag was previous highlighted on the 60-minute chart but shown here zoomed in on the 30-minute time frame for a closer look.
QQQ 30-min March 23rd close
On an administrative note, I will be away from my desk this morning returning shortly before 11am & will reply to any questions or comments as soon as I’m up to speed on today’s market action & my trades.
The appearance of the ticker symbol “tag cloud” that appears at the top of each trade category has been restored to the correct display (3 columns with the date issue now fixed). Remember that you can click on any of the symbol tags in that cloud to load all posts related to that particular trade idea.
A new feature has also been added to the site to make it more streamlined for non-members as well as members that want to check in to the site to scan the latest posts without logging in first. All member-only content restricted posts will now show a lock or “key” icon after the title. Therefore, non-members can more efficiently click to view any publicly available posts & other content without being redirected to the membership options page. To streamline the appearance of the site, once a registered user is logged in, the keys next to the restricted post titles will not be shown.
Back soon. Have a great trading day! -RP