QQQ is starting to approach the top of my expected breakout failure range. On watch for any type of reversal candles such as a bearish engulfing stick on the 30-60 minute time frame. The impulsive nature of the breakout undoubtedly has the bulls salivating, most likely thinking this is the end of the correction & the beginning of a move to new highs. Let’s see if they can follow through on this apparently text-book breakout or if they drop the ball.
QQQ 15-minute May 9th