Broke through the neck line at 389 today on heavy selling volume so I Believe it's game on here for this H&S. Futures are green and if they hold qqq might make an attempt to get back over that H&S neckline at 389; Watch for a reject to enter short . If futures flip Premarket and turn red the next the next support is fibonacci at 386.41. A drop below 386 and we're headed to 50sma at around 379 which also has fibonacci support there.
I
f it does drop that hard in one day I'd be on a lookout for a technical bounce simply because The money flow on the 1hr has lit up oversold and we are currently sitting on the lower bands. Cover and wait for the gap up to fade it again.
Final destination by by late next week should be 368-370..
let's see what happens
I
f it does drop that hard in one day I'd be on a lookout for a technical bounce simply because The money flow on the 1hr has lit up oversold and we are currently sitting on the lower bands. Cover and wait for the gap up to fade it again.
Final destination by by late next week should be 368-370..
let's see what happens
