QQQ is now approaching the 106.30 R level/50% Fibonacci retracement level where at least a pullback is likely (with additional resistance levels just overhead at 106.50 & 107.10).
QQQ 60-minute 2 June 29th
After composing the video below, I have decided to modify my trading plan & add back a substantial amount of short exposure on QQQ here (just added while the Q's are now at 106.30) with the intention to remove all of that particular lot if QQQ prints a 60-minute closing candle above 106.50.
This video discusses QQQ and a few of the largest components of the Nasdaq 100, covering three different time frames on each; the weekly charts, daily charts & the 60-minute time frame. The video ran longer that I had anticipated & is essentially an overview of both the longer-term technical outlook for the markets that I've covered in recent months as well as the more recent developments in the Nasdaq 100 and some of the top components, most of which has been covered recently in various updates as well. There aren't many new developments covered in this video so you might want to skip it if you are already up to date on both my long-term & near-term analysis although some might find it useful as the video ties in the bigger picture with the more recent developments in the market.