QQQ Short
Price recently tested its recent low of $334 and closed above it. The most recent candle, however is bearish. The volume for that candle was less than half of the volume of 1/24 when it made the new low which suggests that investors/traders were less enthusiastic about buying the dip.
In addition we see the ADX displaying a strong negative trend at 30 as the D- continues to climb.
If the double bottom at 334 does not hold QQQ appears to be headed much lower. 271.78 could be in play depending on global news and inflation.
In addition we see the ADX displaying a strong negative trend at 30 as the D- continues to climb.
If the double bottom at 334 does not hold QQQ appears to be headed much lower. 271.78 could be in play depending on global news and inflation.
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