dzhudzhyn

$QQQ not so fast on the channel break

FX:NAS100   NASDAQ 100 Index
had to expand the downtrend channel , although the break of original channel that i posted a month ago saw a decent rally. breaking of the big channel and then consolidation will be first signs this correction/bear market is coming to an end . but the break of the smaller channel should see significant short covering rallies in to the upper side of the main channel
Dec 02
Comment: sooo the small downtrending channel got broken, Friday session closed the outside the big channel and this triggered a spike on Sunday futures. is the downtrend finally over? nobody knows, but at least we have levels to play against. these channels usually get retested, so wouldn't surprise me if we get back to retest it and wash out all the bullish sentiment
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