QQQ (Nasdaq 100 ETF) gapped up above the 235 resistance level highlighted in yesterday’s end-of-session video which is near-term bullish, keeping the existing uptrend intact for now.
QQQ 60m Feb 19th
However, the negative divergences remain intact for now so I’ll be on the lookout for any decent signs of a reversal as well as confirmation of the divergences via a bearish crossover on the PPO before it moves above the previous highs, negating (i.e.- taking out) the divergences. As long as the equity market rallies, that should provide a tailwind for the crude oil & equity long active swing trades on the site.