Along with the rest of the market, QQQ started a correction at 2pm today after almost completing a wave extension.
I believe the bearish momentum continues because the ticker crossed bit 13 period EMA and 30 SMA averages. It also breached support at 276.64.
Target 1 is at previous support at 274.75
Target 2, if profit cashing continues, is at next support around 273
I believe the bearish momentum continues because the ticker crossed bit 13 period EMA and 30 SMA averages. It also breached support at 276.64.
Target 1 is at previous support at 274.75
Target 2, if profit cashing continues, is at next support around 273
Trade closed: target reached
QQQ finished a quick wave 4 correction and continued with wave 5 extension.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.