quantguy
Short

Markets Shake with Impending Rate Hike

NASDAQ:QQQ   POWERSHARES QQQ TRUST, SERIES 1
The bullish run for the markets appears to be slowing especially as the impending interest rate hike gets becomes more of a reality. Some bearish signs are especially prevalent for QQQ             , as we see a relative vacuum area from below and lots of room before we hit any resistance from the Ichimoku cloud . Moreover, the RSI , MACD and OBV all indicate an unfortunate turn of momentum for this asset.

For profit targets, consider the first fibonacci level at around 111.59, or the high of 10/22 at 109.82. Be especially wary of 115.52 as it corresponds to a recent high and a fibonacci level concurrently.
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