QQQ 15 minute March 26th
I’m still looking for a bounce off the S3 zone & with the Q’s trading at exactly 104.70 in pre-market as I type, buying this gap down in pre-market with stops somewhat below this mornings lows looks objective for a bounce trade up to at least the S2 area. If I weren’t already long a bounce position from yesterday, I would be fading this gap but again, whether or not we get a short-term pop today, I remain intermediate-term bearish still expecting a move down to the 100 area in the QQQ by April 23rd.
note: this chart was made before the open & does not reflect the pre-market trades (i.e.- gap down).