The 30-minute QQQ chart, ETF for the top Nasdaq stocks shows, shows a clear descending triangle pattern highlighted in light blue.
After this morning’s rally, I am watching to see if $94 holds as firm support of the pattern into any afternoon weakness.
Bulls have had trouble holding rallies of late. So let’s see how this one plays out. I would look at a long or short trade here based on the directional break of the pattern, over $95 to the upside.
What are you trading today?
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Still holding PXLW but not happy it is just setting there. Will give it a little more time.