Structuring up for Inverse head and shoulder on QQQ [LONG]
Short term conditions :
VXN momentum reversal
Reversal on Discretionary v Staples
Pullback of NDQ Breadth
Dollar bounce off 50MA support
Good for a short term consolidation into August 10 CPI Readings. Expectation for inflation top to be confirmed and provide enough momentum to break neckline on Inverse hs on QQQs for a run to 340
Looking to re-position long between 12000-12500
VXN momentum reversal
Reversal on Discretionary v Staples
Pullback of NDQ Breadth
Dollar bounce off 50MA support
Good for a short term consolidation into August 10 CPI Readings. Expectation for inflation top to be confirmed and provide enough momentum to break neckline on Inverse hs on QQQs for a run to 340
Looking to re-position long between 12000-12500
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