QQQ ready to retrace on Fed minutes
Along with the rest of the market, QQQ started a correction at 2pm today after almost completing a wave extension.
I believe the bearish momentum continues because the ticker crossed bit 13 period EMA and 30 SMA averages. It also breached support at 276.64.
Target 1 is at previous support at 274.75
Target 2, if profit cashing continues, is at next support around 273
I believe the bearish momentum continues because the ticker crossed bit 13 period EMA and 30 SMA averages. It also breached support at 276.64.
Target 1 is at previous support at 274.75
Target 2, if profit cashing continues, is at next support around 273
Trade stängt: målet nått:
QQQ finished a quick wave 4 correction and continued with wave 5 extension.