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QQQ Approaching Resistance Zone

QQQ 15 minute April 20th

QQQ 15 minute April 20th

QQQ is approaching this resistance zone, the top of which is defined by both horizontal resistance & the 61.8% Fib retracement. With the short-term trend indicators (15-minute time frame) still solidly bearish despite this morning's bounce, I just added back some more of the short exposure on the broad markets (QQQ & IWM) that I closed out on Friday along, also adding to the CTSH short trade here as is approaching horizontal resistance around the 61.50 area.

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Apr 20, 2015 10:03am|Categories: Completed Trades - Short, Equity Market Analysis|Tags: , |Comments Off on QQQ Approaching Resistance Zone