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$QQQ: Triangle Breakout

BATS:QQQ   POWERSHARES QQQ TRUST
633 5 1
$QQQ Triangle forming. Trade the directional break out. Breakout to the upside, following some resistance ahead. RSI & Stochastics getting overbought on the daily. Expecting some consolidation and a reversal as long as no major bullish news is released.
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Did you buy it based on this analysis? Are you expecting it to move up at this point? Thanks.
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TradeVulture.com charttrader
I'm 100% technical (usually) short-term options trader and yes, but I'm very cautious here. Even though it did break out to the upside, I'm not convinced yet. I'm still expecting a rejection, but we'll have to play it by ear.
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Agreed.
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Followed.
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