Commentary

3/12/21 Current Signals xFF/o3>c1

The daily QQQ chart is shown with the two down waves of equal length:

  1. 338-311 and
  2. 324-297.

After the bottom, it has retraced 50% of the loss, but is looking weak today before the open.

xFF performance has been supporting prices in the upper cycle. I’m guessing that is not the way things will continue to play out. o3 looks like it will produce a loss today, in which case c1 looks OK OC, if c3 happens OC is not so good.

I’m not any kind of resistance expert, but expect there to be considerable supply of SPY at these levels.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s