QQQ retest of 330 level, potential for consolidation/rejection

Like we have been talking about in past videos, the target to get to is 330, for a potential retest of the resistance zone and a turn to the downside. Targets on the downside are 270, but ultimately a decision will have to be made at the current level. Either we see a sharp turn back to the downside, and potentially seal the deal on a double top, or we continue to break through the 330 level, and delay a potential pullback to a later time. In either case, key events to look for will be stimulus and Q4 Earnings, which wrap up this week.

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Copyright Rohan Karunaratne 2021

Comment:

Positions Update: Staying long silver despite drop off today, considering it has been rallying for the past 3 days, not unwarranted. Staying long the yolo names and select small caps.