Likely buy the dip remains the name of the game

QQQ looks set up for a buy the dip again. While we have gone all august without a correction, a 5-7% correction in QQQ is standard at this point with it occurring half a dozen times already. 282 or around the 200 hourly moving average or 20 daily moving average is the expected support area. Hourly RSI is in the same oversold region and early in the day after 2 hours of trading the majority of downside momentum was already lost as we effectively traded sideways for the rest of the day on higher then normal volume into close.

This strategy as previously posted many times

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