Looks like we have a bounce on QQQ. We can see QQQ hit 4h 50 ema two times and bounced off on high volume. I don't like using intraday volume on QQQ since the data is not the best so to confirm I looked at NQ futures to see that there was big volume on the bounces. It looks like there was a lot of volume there so any sells were picked up by buyers; no follow through by sellers. Failure of that level is pretty big.
Edit: forgot to mention we should see and watch how volume reacts at 223.5 and ATH to see what's going on. We keep bouncing off of 50 EMA and form an ascending triangle which would be bullish. A wise trader once said that it takes a few tries on resistance to break through so let's see those two areas and if we do actually break through.
Edit: forgot to mention we should see and watch how volume reacts at 223.5 and ATH to see what's going on. We keep bouncing off of 50 EMA and form an ascending triangle which would be bullish. A wise trader once said that it takes a few tries on resistance to break through so let's see those two areas and if we do actually break through.
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Edit: forgot to mention we should see and watch how volume reacts at 223.5 and ATH to see what's going on. We keep bouncing off of 50 EMA and form an ascending triangle which would be bullish. A wise trader once said that it takes a few tries on resistance to break through so let's see those two areas and if we do actually break through.