QQQ has only slightly (by less than 1%) undercut the 163 support level while falling to the the previous reaction low around 162. The potential divergences on the 15-60 minute charts are still intact although with the PPO pointing lower, QQQ will need to reverse soon or this support level will be taken out & the divergences negated with the indicators making lower lows along with prices. 30-minute chart below:
QQQ 30-minute March 23rd
Should QQQ reverse soon after this minor undercut of the 163 support level, as I still favor, any of the labeled resistance levels on this 60-minute chart are likely to act as the end-point for a counter-trend rally today & possibly into next week. My minimum preferred target is the 165.65ish level with a max. bounce target around 168.20. 60-minute chart below:
QQQ 60-min March 23rd