Top 5 Weekly Trade Ideas #3 - QQQ Long/Short

QQQ is testing a trendline that has held since late August now. Small rejection so far, we may bounce shortly and end up breaking out above. If not, I'd expect a big failure here. I think this will determine direction for the next few days at least. If bears can't hold it here, there's not much stopping us from squeezing back up to 486.

I still favor downside for now, but we're getting close to the point where I can't be bearish anymore, at least in the shorter term. Should be interesting.