Seems snaps bad news has dragged some big names down with it
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This will weigh on the QQQ tomorrow. So will we short? Let's look at some support levels
I have these support levels written down in order as
Sp1
Sp2
Sp3
As you can see SP1(Whiteline) has alot of price action in this area of 374.74. It'll be really tough for the bears to drag this below here because of the amount of capital went in to getting it above that area. I think those buyers in that area buy the dip instead of sell; The reason I say this is because those buyers who bought in at that area bought for earnings season which is still underway.
374.35 Is support 2 (Yellow line).
This is the more minor support and current trendline. If we break here I think we'll close that gap at 372.87 which is gap close.
Below that area and it will get ugly , an ugly double top will ensue.
Overall IMO, I think it's bestto wait for the dust
FB
TTD
Pins
PayPal.
This will weigh on the QQQ tomorrow. So will we short? Let's look at some support levels
I have these support levels written down in order as
Sp1
Sp2
Sp3
As you can see SP1(Whiteline) has alot of price action in this area of 374.74. It'll be really tough for the bears to drag this below here because of the amount of capital went in to getting it above that area. I think those buyers in that area buy the dip instead of sell; The reason I say this is because those buyers who bought in at that area bought for earnings season which is still underway.
374.35 Is support 2 (Yellow line).
This is the more minor support and current trendline. If we break here I think we'll close that gap at 372.87 which is gap close.
Below that area and it will get ugly , an ugly double top will ensue.
Overall IMO, I think it's bestto wait for the dust
