Classic trend reversal retracement -Bear flag directly into one of the last imbalances (on 30m timeframe) - Breakdown to 393 area very possible in the next month or two - ~10% drop from current levels, would put QQQ squarely in correction territory - Upside is that 393 area looks to be a very strong (and fresh) support
Comentário
QQQ Fell Directly into the bottom trendline today with FOMC coming up tomorrow afternoon
-Good chance to take profit on some short positions -Market overall is selling off any news that isn't spectacular which is very typical cycle reversal behavior
Comentário
FOMC Press Conference
- Powell announced QT will be reigned in some - Overall a very bullish conference for not just US markets, but global ones - Always dangerous to counter trade the trend - Personally considering shifting bias towards the descending megaphone on the 4 hour chart as bears may be getting trapped here. Depends how markets digest this conference
Trade ativo
Rising Channel still in play - Good day to readd to position after trimming at the lows from FOMC - Could potentially fil the gap up to 443.31 - Playing both sides (trend by the day), but this remains my big picture setup
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