$NQ $QQQ 12750 Extremely Important Level

Keep an eye on that 12750 level. A decisive close below that and inability to recover could be very telling. Seems that we are working on that right shoulder of a head and shoulders top. BUT, these formations don't complete until you get a clear breakdown below the neck line and they are extremely telling when they fail and price raises above the right shoulder (indicates resumption of the bull market and higher prices if that happens).