QQQ 15 minute 2 March 25th
QQQ has now hit the S2 support level from the previous 15-minute charts, printing a LOD of 106.05 so far. That 15-minute support level is also the uptrend line that defined the bottom of the bearish rising wedge on the daily chart. I still favor at least a minor bounce off this level and chose to cover my QQQ shorts there & reversed to a long position but only for a quick bounce, still favoring a solid & sustained break below this support level in the coming days. How far & long this bounce lasts, assuming that we get one, I can’t be sure. I’m just looking to play a quick bounce via a highly leveraged position, reducing most or all of my long exposure before the close today.