Clear head and shoulders forming on the daily chart. Tight price action below the 200 sma and above the 50 sma. Wait and see if it breaks through the 200 SMA and closes the monthly candle above the 200; I will allocate higher portion of my 401k to small caps. If it falls below the 50sma, wait to see what happens with pricing at the neckline. cash on the sideline...
Following QQQ trading ranges when experiencing dips. Illustrating a proper gap-fill with today's sell off and key support test with bull volume buy off Oct week 1 resistance @ 282.85 which is proving to be today's support. Higher volume in final minutes if trading (HFT likely) off oct wk 1 resistance. Potential risk is cease of stimulus discussion. Hoping to hear...
