This is what I have simply drawn up for QQQ
Its kind of interesting, because i see a few things that could possibly happen-
We see a nice megaphone pattern, and a break of it from todays lows. Im anticipating a possible gap down to retest yesterdays lows at 393.97. There is a good chance we will bounce there and it could FLY back up to test 399.41 resistance. Obviously, if this resistance is broken, it will test the upper trendline of 401.15 and 402.30
If the LOW OF DAY is broken, the trend is bearish and it will begin heading down to 389.02
Its kind of interesting, because i see a few things that could possibly happen-
We see a nice megaphone pattern, and a break of it from todays lows. Im anticipating a possible gap down to retest yesterdays lows at 393.97. There is a good chance we will bounce there and it could FLY back up to test 399.41 resistance. Obviously, if this resistance is broken, it will test the upper trendline of 401.15 and 402.30
If the LOW OF DAY is broken, the trend is bearish and it will begin heading down to 389.02
PG13