QQQ ready to retrace on Fed minutes

Along with the rest of the market, QQQ started a correction at 2pm today after almost completing a wave extension.

I believe the bearish momentum continues because the ticker crossed bit 13 period EMA and 30 SMA averages. It also breached support at 276.64.

Target 1 is at previous support at 274.75

Target 2, if profit cashing continues, is at next support around 273

Trade closed: target reached:

QQQ finished a quick wave 4 correction and continued with wave 5 extension.