Clicky

QQQ First Target Hit, Minor Reaction Before More Downside Likely

Following the post earlier today, QQQ went on to break support as expected and has now hit the T1 level posted earlier today with the 28/68ema trend indicator also confirming the sell signal. As with most target/support levels, a reaction as occurred so far with the Q's bouncing after making a perfect kiss of that support level. I could see this bounce continuing but it is most likely to be relatively minor in scope & duration. Next probably target is the 111.72 area (T2, just added to the updated chart below).

0
Dec 3, 2015 1:26pm|Categories: Equity Market Analysis|Tags: , |Comments Off on QQQ First Target Hit, Minor Reaction Before More Downside Likely