#QQQ: Solid trend day

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Friday's bearish doji gave way to day of solid buying though at a much more muted volume. The trend day brings #QQQ to an interesting point from where it can catapult another 11% to 214-15 area if the potential of the 13 bars box can be realized.

VIX has started to roll down but is still quite elevated. Indices will rise as dealers/MM's close short put positions before volatility compresses too much as they lose money if VIX keeps dropping.

With C-19 cases in Italy plateauing and China reporting stronger than expected PMI indicating economy expansion, the bears may have to scramble to cover driving the markets up in a squeeze.

Also, the talk of additional stimulus has begun to circulate, adding further support for the bulls.

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