QQQ gives more strength to its bullish turn around

30 Ağu

Today QQQ started with another gap up breakout for the 2cd day in a row. Stock retraced then rallied again in the late day.

• Stock gapped up again doing another breakout weakening the week long sell off trend.
  
• Retracement that was expected sold off less and at slower pass than the day before
  
• Late day smart money jumped in and pushed the stock to higher highs
  
• Volume experienced a massive spike in last moments of trading which can be indication of price exhaustion. This should cause a temporary pull back next trading day
  

Overall the bull thesis for QQQ is getting stronger each day.

3 Eyl

Not

Today we did get a pull back as anticipated. The pullback was much stronger and with much higher volume than expected. QQQ blew through all support levels firmly back into its original downward trend area. Sold two small positions at a loss. Staying on the side lines for the foreseeable future.