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QQQ Recovers Tues.-Thurs. Swoon. What's Next?

By Mike PaulenoffStock MarketsMay 19, 2017 02:25PM ET
www.investing.com/analysis/qqq-recovers-tues.-thurs.-swoon.-what's-next-200190314
QQQ Recovers Tues.-Thurs. Swoon. What's Next?
By Mike Paulenoff   |  May 19, 2017 02:25PM ET
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The e-NDM (PowerShares QQQ ETF (NASDAQ:QQQ) has recovered 70% of the entire downmove from the May 16 all-time high at 5727.25 to the May 18 low at 5550.50.

As long as the price structure remains north of the trendline off of the 5550.50 low, which cuts across the price axis in the vicinity of 5652, we cannot rule out upside continuation that jams the (remaining) shorts.

15-Minute Emini Nasdaq 100
15-Minute Emini Nasdaq 100

QQQ Recovers Tues.-Thurs. Swoon. What's Next?
 

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QQQ Recovers Tues.-Thurs. Swoon. What's Next?

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May 19, 2017 10:40PM GMT
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Try using a bigger chart. It sold off at session end forming what might end up as a right shoulder.
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