FlashPoint Trading was alerted to sell short /reversal signal shortly after the opening this morning on QQQ 15 min chart. After closer inspection, we noticed a Symmetrical Triangle or spring with 5 touch points. A dump below the up sloping blue line will likely try close the April 3rd gap around $182.90. Any additional selling pressure could see a decline to the green up trend line at $181.50.
On the flip side, a break out above the symmetrical triangle down sloping line could signal a quick reversal back to the long side and test of the Daily 52-week high of $187.53 is likely.
On the flip side, a break out above the symmetrical triangle down sloping line could signal a quick reversal back to the long side and test of the Daily 52-week high of $187.53 is likely.
AlgoTrend Capital LLC