QQQ – Simple Trading Update 16 February 2016

A quick post re QQQ…

Some of you reached out to me today asking if QQQ looks like a setup.

This is what the Daily chart looks like…

QQQ D 16 Feb 2016


To the naked eye, it looks like price [and the MACD] are giving a clear long setup.

However, 1 look at the weekly chart, and it’s clear that the prevailing path of least resistance remains to the downside.

QQQ W 16 Feb 2016

I suspect we haven’t seen the lows yet… but as always, be ready.