Wednesday, September 27, 2017

Whoops!! QQQ And Broken Support Level

ETF QQQ has just broken a key support of what appears to be an ascending bearish wedge. It's quite a shallow wedge which makes the support levels not-too-far-away, around $141 or $135. Does this forecast a rounding top pattern? Is this the beginning of a correction? Whatever it is markets are far too fizzy at this point and a healthy retracement I think is what is needed at this stage.