Price closed near yellow channel resistance.
If we open below 321.50 I expect a pullback to 318.
Haven't been able to break below this rising last 2 touches which brings me to believe we will hit 330 if we close above 322.
There's 2 events happening next week that I think will push this above 322
1. Aapl earnings
2. Fomc
As you can see, they are intent on closing every gap which makes me believe they will close QQQ gap at 330 next should we break and close above 322.
Either way the ball game is almost up, after 330 the biggest correction since last summer will be upon us
If we open below 321.50 I expect a pullback to 318.
Haven't been able to break below this rising last 2 touches which brings me to believe we will hit 330 if we close above 322.
There's 2 events happening next week that I think will push this above 322
1. Aapl earnings
2. Fomc
As you can see, they are intent on closing every gap which makes me believe they will close QQQ gap at 330 next should we break and close above 322.
Either way the ball game is almost up, after 330 the biggest correction since last summer will be upon us
Comment:
Pullback targets Monday.
321.30
319.00
321.30
319.00
Comment:
Price has formed a smaller wedge inside the main rising wedge.
Line chart confirms wedge
Tomorrow upside resistance is 324..
Over 324 there's 330.
Support is 319
If we break support then 315
Below 315
312 gap close
Line chart confirms wedge
Tomorrow upside resistance is 324..
Over 324 there's 330.
Support is 319
If we break support then 315
Below 315
312 gap close
May need a Catalyst next week.. until then be weary of calls..
Our range is
319-321.30
Chop in those areas