QQQ is breaking its Support level around 333 pre-market. Its top 10 holdings (FAANGM, INTC, NVDA, NFLX, TSLA) have been selling off which is the reason why QQQ is falling as well. Breaking this level of support is telling me that it will drop to the level of demand around 331. We can see a short term bounce from that level. A stronger level of demand and support is towards the 325 area which I can see the Qs going in the next days-week. A long term holding and level of accumulation after the correction would be once it drops to the level of demand around 315. Lets hold on to our hats and see where this market goes and if fear accelerates this selloff.
Trade closed: stop reached:
Stopped out from first level of demand and never reached the second level which was right below it around $325;1$ shy :( of reaching, it is part of trading it is never 100% accurate. It is a probability business. Wash, Rinse, Repeat. #TTP #TrustTheProcess