$QQQ 60m Chart Analysis: Post FED Minutes

Nearing a pivot at $295 I have witnessed this level provide a lot of two way trade. To me I think it's smart to fade this rally as the FED really hasn't changed the substance of the current rate hiking environment I believe $QQQ will run into a supply imbalance at or near $295. SO I am buying (14)Dte Put options around the $280 strike, my strategy is to roll up/down as I see fit with pace of volatility etc.

My opinion is that the first reaction to Minutes/FOMC is a great opportunity to get short tech / the market. Trade smart, trade safe, most importantly just TRADE.

Comment:

If $QQQ does break above $295 pivot with a catalyst / momo then we will start to see more rallies in the market. My level on $QQQ,(295) Is synonymous with a level I have on /NQ futures $11980.

$295, $QQQ
&
$11980, /NQ ; are my pivots for intraday biases

Comment:

So far $295 price action is supporting a reversal to the recent rally.