$QQQ Wedging on the 65 Minute Chart (VCP)

QQQ is clearly in a wedging pattern. These types of patterns “usually” resolve in the direction of the larger trend. In this case that trend is still up.

This is a news driven market now so anything can happen. I have an alert set at both the top and bottom of the wedge lines. I do not plan to short this market, but should it break down, I may want to reduce my exposure. And if it breaks to the upside, I may add more exposure.

I am giving my observation of the market. Nothing more.