Potential inverse H&S forming on 5 minute chart of QQQ. Failing to break down the 168.9 support could trigger another leg up.

Just curious: why would the bottom of the gap be a support in this case? I thought we didn’t meet resistance there, and not too many reactions at that level.

Also, note that QQQ is backtesting the 168.90ish support which is the bottom of the big March 19th gap + other reactions. QQQ managed to backfill close to half of that gap but reversed there & is backtesting the bottom of the gap (support) from below now.

Actually, it’s been 480p for a while.

Sorry about that. I used to have the video recording settings to record in 720p HD but this one appears to be in 480p max resolution for some reason. I’ll check the settings on the next recording to make sure to revert back to 720p HD but I can’t change the current video above the resolution that it was recorded in.
Sorry for that but I’m glad that you pointed it out so I can make sure that the future videos are recorded in HD.

There is also a H&S pattern formed on minute chart of QQQ and it has so far played out to the measured level.

Update: after fully played out, QQQ is trying to kick back to test the trend line.