DGSTACC: QQQ MICRO ANALYSIS / CHANNEL CONFIRMATION / SUPPORT
In the chart above I have provided an analysis for the pennant formation seen in the four hour time frame for QQQ along with channel confirmation.
1. 270 is crucial point for QQQ to hold in order to avoid being pulled into a demand zone on the fibonacci.
2. Spike on the 13th of December confirmed rally top.
3. BREAK OF 270 BEYOND AT THIS POINT WOULD CONFIRM A BREAK OF THE PENNANT FORMATION.
4. BREAK OF 260 WOULD CONFIRM A MELT DOWN FROM CURRENT CHANNEL.
1. 270 is crucial point for QQQ to hold in order to avoid being pulled into a demand zone on the fibonacci.
2. Spike on the 13th of December confirmed rally top.
3. BREAK OF 270 BEYOND AT THIS POINT WOULD CONFIRM A BREAK OF THE PENNANT FORMATION.
4. BREAK OF 260 WOULD CONFIRM A MELT DOWN FROM CURRENT CHANNEL.
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