This 60m chart is a follow-up to my long-term post on QQQ. The index looks to completing a five wave move higher from its triangle breakout. Alternation between waves 2 and 4 of the move increase confidence in the wave count. With RSI starting to show divergence, there is an opportunity to get short for a corrective move lower. Initiating a short position at 175.85 with a profit target at 167.00.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.