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!