Panic Selling, Black Monday and Potential Reversal
02/27
Unusual time, unusual actions. Last Wednesday was the record high for Nasdaq100 (QQQ) but this week the picture looks very different after series of high volume, high price drops. Tomorrow (02/28) and next Monday could be one of the following three scenarios: panic selling, black Monday (extreme actions) or same day reversal (to upside). 200 DMA or around 195 and 170 are two reference levels where selling, rebound, reversal could take place. Please be sure to have your trading plan ready tonight.
Unusual time, unusual actions. Last Wednesday was the record high for Nasdaq100 (QQQ) but this week the picture looks very different after series of high volume, high price drops. Tomorrow (02/28) and next Monday could be one of the following three scenarios: panic selling, black Monday (extreme actions) or same day reversal (to upside). 200 DMA or around 195 and 170 are two reference levels where selling, rebound, reversal could take place. Please be sure to have your trading plan ready tonight.