QQQ has potential bullish divergences on this 60-minute chart which would be confirmed on any additional upside soon. I favor a rally today as shorts cover/reduce/hedge their positioning before the long 3-day weekend. With QQQ still defending the primary uptrend line support, any rally today could very well extend into next week. However, with the markets still in a very precarious technical position & the odds for a fairly large gap in either direction on Monday morning, best to keep things light heading into the 3-day weekend.
QQQ 60-min March 29th
Although I won’t add QQQ as an official trade at this point in time, personally I’ve taken a position of /NQ (Nasdaq 100 Emini futures) with a stop below 6465 which I’ll trail up stops on & possibly ride into the close today, should the Q’s rally from here. A break above 159.40ish on QQQ is likely to spark an intraday rally.