$QQQ with the expected rest day after 3 big green days. Today we got the easy fade day, tomorrow will be trickier, more reactive trades. Check out tomorrow’s watch list and game plan:
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Earnings Reports This Week
$55 area a big resistance level, along with the 20MA catching up. If we can break and hold over it looks good for a gap fill with a ton of momentum in the coming weeks.
Rest day today, if the $QQQ resumes momentum tomorrow this will be on top watch for a long set up.
Building up pressure at the $90 area, along with a nice inside day. Room to run back to the psychological $100 level and the 50MA.
Nice consolidation day, should get a could pop for a day trade if the market holds up tomorrow.
China name getting extended, if this gaps up and the market starts to roll over it will be on watch for an exhaustion gap short play to the downside.
Ugly reversal candle, keeping this on the short watch list if the markets start to get week. Room to fall back to $26.
Starting to build up pressure in the $105 area, wouldn’t expect it to break out tomorrow but keep it on watch later this week after it gets a few more days of consolidation.