I returned home late yesterday after leaving town early Friday so updates will resume as normal today. Looks like I didn’t miss much on Friday as QQQ continues to pinch between the 314ish support & the top of last Tuesday’s gap (resistance) with the next sell signal still pending a solid break and/or close below last Tuesday’s low.
QQQ daily March 1st
Also on Friday, the 30-yr Treasury Bond yield reversed sharply on Friday off the key 21.16 resistance that was highlighted in Thursday’s video resulting in one of the biggest daily gains in TLT (20-30 year Treasury Bond ETF) in many months.
$TYX daily March 1st
Bottom line: I continue to wait & see which way the recent trading range on QQQ resolves although even if QQQ manages an upside break (above last Tuesday’s gap) it would still have significant resistance not far overhead to contend with, starting with the 330-331ish level followed by a potential backtest of the primary trendline. I’ll follow-up with additional updates after the regular trading session gets underway.