QQQ Recovering from a Pullback LONG
Updated
QQQ had a bad day yesterday reacting to adverse financial news with a deep
correction as technology stocks were hit the hardest. On the 15 minute chart,
price dropped to the bottom outer band in the double BB indicator and then
reversed and heading inside both bands and then gapped up in the open of the
premarket session. The dual RSI indicator shows the lower time frame line in
green crossing over the higher time frame red line. I conclude that price could
run up to 385 especially if it can cross the middle band at 380.
correction as technology stocks were hit the hardest. On the 15 minute chart,
price dropped to the bottom outer band in the double BB indicator and then
reversed and heading inside both bands and then gapped up in the open of the
premarket session. The dual RSI indicator shows the lower time frame line in
green crossing over the higher time frame red line. I conclude that price could
run up to 385 especially if it can cross the middle band at 380.
Trade active
Trade opened with the cross of mid-BBand. Upon regular session will take a call option of 0DTE at strike 382 and another next Monday 1DTE at 385.
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