QQQ continuing a 2 day mind numbing scattershot chart pattern.
From what SG sees... 24.45 was the intra-day top on Friday morning, and we quickly saw 23.65 eventually get hit.
Today's action best counts as a near 78% retrace when we hit 25.25... about 3 pennies shy of my top number I was looking for.
My best view is we should not surpass that tomorrow (after hours is not indicative of collective social mood), or my counts are off short term....
That said, Im still looking for lower lows, compounding with these lower highs we keep seeing. After 5 trading days, we are right where we were last Tuesday morning btw.... a frustrating time for bears I realize...
Im looking for a 3rd minuette wave to unfold off of the 24.25 print high today on the QQQ... and Im looking for that number to be at or about 22.97 ish... this is still jiving with my views last week.... if anything, my targets keep lowering.
The retraces have been sharp, nearly 78% a few times now over the past week... indicative of a nervous market on the precipice of collapse.... thats right, a very major selloff collapse is nigh... so Im holding my 200% shorts, and not wavering...
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