QQQ just had the expected reaction (pullback) off the initial tag of the bottom of yesterday’s gap. Now looking for another thrust up to take out today’s highs, enter the gap & pop the stops from those that shorted there today, with the next reaction likely around the time SPY makes the first test of its gap from yesterday, somewhere along the lines of the updated (2nd) 60-minute chart below.
- QQQ 60-min Aug 6th
- QQQ 60-min 2 Aug 6th