Weekly Bearish Engulfing candle on QQQ after support was broken Friday of last week. Price is also failing to make higher highs on the lower time frames indicating buyers have yet to step in which potentially means more downside for the market.
1: Is the local high put and acts as a major support. QQQ 290
Notice all calls are smoked there, so they got squeezed first thing Monday. Sometimes it'll push past the high interest levels by a half measure if there's some opposing interest at or near the same strike. However the call interest is super low at and around 290. So this one stopped just shy, didn't...
