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QQQ Reverses Off R1 Resistance

Another failure at the R1 resistance level so far today by QQQ. R1 is the same resistance level identified earlier this week as the likely stopping point for any counter-trend rally before T3 is reached. Should the Q's manage to take that level out, the next likely reversal point remains R2 at 173.90. Previous & updated 15-minute charts:

On an administrative note, I will be on a semi-working vacation over the next two weeks. I will continue to post any significant market developments or actionable trade ideas & will reply to any questions or chart requests at my earliest convenience. Best of luck with your trades & have a great weekend!

-RP

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2018-06-29T14:41:15+00:00Jun 29, 2018 2:41pm|Categories: Equity Market Analysis|Tags: , |1 Comment

One Comment

  1. BIGBADWOLF June 29, 2018 2:46 pm at 2:46 pm

    Plus the banks are fading the pop.

    0

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