QQQ broke double head pattern, bulls seems to be taking control

12 thg 3, 2018

Interesting move on Friday 9th. After reaching a double head pattern, where the volume market profile showed possible retracements to point 1 or 2, the market actually moved the opposite way, generating a positive gap and breaking the double head resistance. The positive trend seems to be gaining strength again. After the big retracement in February, we are seeing a first pivot (higher low and higher high). It seems a little late to enter into a long position for a medium-long run, but there are still no clear signals for going short either. We need to be very alert and see how the market behaves this coming week.