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Markets Bounce Back to Resistance, Offering Another Objective Short Entry

QQQ is currently backtesting the 117.23ish former support, now resistance level while the 60-minute trend indicators remain clearly bearish... thereby offering another objective short entry. As per the video published earlier today, the most objective & highest probability short entry will come on a convincing break below QQQ 116.00 as well as the support levels highlighted on the top components of the Nasdaq 100.

QQQ 60-minute Oct 13th

QQQ 60-minute Oct 13th

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Oct 13, 2016 2:10pm|Categories: Equity Market Analysis|Tags: , |2 Comments

2 Comments

  1. Gaucho October 13, 2016 2:40 pm at 2:40 pm

    Hi Randy @rsotc, QQQ has just reached 117,22 and now going down slowly

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    • rsotc October 13, 2016 3:22 pm at 3:22 pm

      Dazi- Slowly at first but if/when QQQ cracks below this 1-minute uptrend line & especialy the 116.98 level, things should start moving to the downside pretty impulsively.

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