Above is the daily chart of QQQ at 11:15 AM Eastern Time. Although we’ve already gap filled back to slightly over 160, I think the current price action offers a good chance that we bounce upwards into the close. The bears are not as aggressive today as you can see in the lower volume.
Above are the 30 minute candles for QQQ at 11:17 AM Eastern Time. As long as QQQ holds above 158, I think there’s a good chance we close back in the 160 – 161 range today. Please note that the volume is also quite low on the 30 minute chart relative to April 2nd’s intense selling pressure.
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