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QQQ Gap Backtest & Trendline Backtest

I was quick to fire off the last few charts highlighting the gap backtests on AAPL & GOOG but, even with those two largest components accounting for over 20% of the performance of QQQ, I was remiss not to have included the chart of QQQ. As this 15-minute chart shows, QQQ is currently backtesting a minor uptrend line which the Q's broke down below on Friday afternoon & are currently backtesting from below with the bottom of Wednesday's large gap (resistance) just overhead.

QQQ 15-minute May 22nd

QQQ 15-minute May 22nd

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May 22, 2017 10:09am|Categories: Equity Market Analysis|Tags: , |2 Comments

2 Comments

  1. rsotc May 22, 2017 10:39 am at 10:39 am

    Expecting a reversal at or just shy of the bottom of Wednesday’s gap to starting playing out somewhat along these lines….

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  2. snp May 22, 2017 5:42 pm at 5:42 pm

    logical target is a tag of 140. how about 140.07.

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