QQQ Challenging Top of Falling Wedge Pattern

That 15-minute bullish falling wedge posted yesterday looks ready to pop any minute now. Although move up to the 106.80ish level & even beyond can not be rule out at this time, I continue to favor a failed breakout with prices reversing shortly after the breakout. I've also noted a minor uptrend line off the recent lows. A break below that line could spark another thrust down within with wedge pattern & possible below the 104.90 support level.

QQQ 15-minute May 5th

QQQ 15-minute May 5th

2017-03-08T21:19:49+00:00 May 5, 2016 1:02pm|Categories: Equity Market Analysis|Tags: , |1 Comment

One Comment

  1. pangblood May 5, 2016 1:24 pm at 1:24 pm

    Theres the fake breakout, good call


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