The
QQQ
has finally pulled back into the 50% retracement, which could potentially indicate a reversal coming. In addition, we see an ABC elliot correction wave that looks to be fully or nearly fully formed. If the 50% breaks to the downside i would anticipate a continued selling pressure. Good Luck!
The 50% has been important in the history of this index as well:
QQQ
has finally pulled back into the 50% retracement, which could potentially indicate a reversal coming. In addition, we see an ABC elliot correction wave that looks to be fully or nearly fully formed. If the 50% breaks to the downside i would anticipate a continued selling pressure. Good Luck! The 50% has been important in the history of this index as well: