NASDAQ:QQQ   POWERSHARES QQQ TRUST, SERIES 1
346 2 4
I think it is inevitable that we test the 200 day. Massive volume should not be ignored. Traders are conditioned to buy the dip but this could get smacked down as smart money waits for a pop before the next dump. I would be very cautious into next week and wouldn't be surprised if this turns into a head and shoulders .
Good catch! A similar pattern is also visible on the graph of Nasdaq Composite Index (NASX). Upon the successful formation of this head and shoulder pattern, individuals can trade inverse ETFs such as PSQ, QID, and SQQQ to generate profits.
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Thanks for the comment AKim.
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