3/10/2020 Stocks surge today, but I’m still thinking we drop down to the 180-190 level on QQQ. Currently risk reward favors a move up although futures hint at more downside tomorrow (Wednesday).

Hello, this is a midweek update. 

Despite the bounce today, I still think we will move much lower in the next 1-2 weeks to the 180-190 level on QQQ (probably the lower end of that range). I don’t think QQQ will be able to push through the 210-215 resistance zone (good level to sell or go short at). If we hold for a week above the 210-215 level, I suspect new all time highs will occur. 

QQQ Daily 3_10_2020

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