Potential Paths for QQQ This Week
We may or may not get some good price action this week. The week of thanksgiving is pretty terrible for trading most of the time, but we have a lot of potential catalysts this week. I would still avoid Wednesday.
If this futures move holds up overnight, it looks like QQQ may gap up above $507.84. if that's the case, I'd have bullish bias until it breaks below. I'd be looking for longs on any retests of the area. We may not get much of a pullback and head straight up for a test of the trendlines above which I think will likely provide at least one rejection.
If we don't hold up overnight and open lower, downside targets would be $503.52 and then $492.80.
If this futures move holds up overnight, it looks like QQQ may gap up above $507.84. if that's the case, I'd have bullish bias until it breaks below. I'd be looking for longs on any retests of the area. We may not get much of a pullback and head straight up for a test of the trendlines above which I think will likely provide at least one rejection.
If we don't hold up overnight and open lower, downside targets would be $503.52 and then $492.80.
You reap what you sow.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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