QQQ 15 minute 2 March 26th
Today’s gap on the QQQ has been nearly perfectly backfilled. The backfill of that gap was most likely a magnet for Johnny-come-lately retail traders that missed this initial move down to finally establish a short position. Perfect chance for the institutions to turn on buy-programs and squeeze them out. Primary scenario is a move back up to around the 107 level before going lower with my alternative scenario a bounce to around 106 before reversing.
JMHO as always so DYODD & trade according to your own abilities, risk tolerance & trading plan. Also keep in mind that with volatility spiking, expect wide price swing on the indices & especially individual stocks to continue in the near future. Adjust your position sizes accordingly and/or keep things light if unsure how to be positioning at this point.