NQ/QQQ long term look after monster reversal
Here is a look at the NQ after the monster reversal yesterday. Key things to note.
Mostly bullish info. Price needs to get above the 21 ema, week 200 sma & the downward trendline to continue higher. The June 16th low is key. Above = bullish. Below = bearish.
A rejection and the 200 weekly sma and move back below the June 16th low would be very bearish.
- Back above June 16th low
Did not make a daily close below 1.13 Fib X
Above the 9 ema but below the 21 ema
VIX did not break 36 and is dropping
DXY down
10 Year yield down.
Coming into trendline resistance.
Mostly bullish info. Price needs to get above the 21 ema, week 200 sma & the downward trendline to continue higher. The June 16th low is key. Above = bullish. Below = bearish.
A rejection and the 200 weekly sma and move back below the June 16th low would be very bearish.
