After another fast open, the action has slowed down with a grinding bounce higher.
On the ETF for the Nasdaq, using a very short-term timeframe intraday, I am looking to see how this rising wedge resolves.
A move and hold back under $86.50 today likely sees the selling pick up again.
For now, it is a slow New York lunch hour.
_____________________________________________________
The $QQQ hourly still seems to be in charge in that big megaphone. Kissed the top at the open yesterday.
Good point, thanks.
i bought spy puts on the wedge kissback around 1868 an hour ago. i think we see a red afternoon.
I’m not liking the sell-offs on all the names with good earnings beats and guidance. feels like bag holder transition phase. Only one holding an earnings game is AAPL, but that could be based on all the financial changes made.
Nice one.