$QQQ Update 4HR TF
As with the $SPY, the $QQQ is seeing some relief after multiple weeks of downward price action.
Things to note:
- price has broken above & found support on the 9SMA
- bearish rejection of the BF channel & 21SMA (so far)
- bullish cross of the 100 above the 200SMA back on Tuesday
The reason we analyze the lower TF is to catch price direction early before they start showing on the higher TFs.
I will post the bullish targets under the daily TF post.
As with the $SPY, the $QQQ is seeing some relief after multiple weeks of downward price action.
Things to note:
- price has broken above & found support on the 9SMA
- bearish rejection of the BF channel & 21SMA (so far)
- bullish cross of the 100 above the 200SMA back on Tuesday
The reason we analyze the lower TF is to catch price direction early before they start showing on the higher TFs.
I will post the bullish targets under the daily TF post.