Like many of the other US indicies, the $QQQ or $NQ_F is showing a lot of divergence. I have noted that many of the single names as well as the momentum sectors are breaking down and under pressure which should bring down the entire index.
If the wedge provides support for the week, we should see 108 hold. If the wedge breaks and we see some speed, I see a good amount of confluence occurring around the mid-low 105s.
If the wedge provides support for the week, we should see 108 hold. If the wedge breaks and we see some speed, I see a good amount of confluence occurring around the mid-low 105s.