TICKER: $QQQ
Huge bear volume on Friday and a close near the LOD. Next week is key as we have tech earnings.
If we break the low of Friday (221.67), I expect further pullback. RSI on the hourly time frame is down in the over sold category but keep in mind that with earnings and potential news, RSI levels could get extreme. Volume will be a key indicator for this incoming week. We already had above average volume on Friday and I expect we will continue to have high volume this coming week. This means great trading opportunity.
Long term, the bulls are still in complete control. Anything above 212.24 will just be a daily HL.
Huge bear volume on Friday and a close near the LOD. Next week is key as we have tech earnings.
If we break the low of Friday (221.67), I expect further pullback. RSI on the hourly time frame is down in the over sold category but keep in mind that with earnings and potential news, RSI levels could get extreme. Volume will be a key indicator for this incoming week. We already had above average volume on Friday and I expect we will continue to have high volume this coming week. This means great trading opportunity.
Long term, the bulls are still in complete control. Anything above 212.24 will just be a daily HL.