Long Idea QQQ and SNPS

This is written before 3:00 pm, so the close is yet to be seen, anyway as they say, speculation needs a bit of anticipation so let’s see.

A succession of lower lows was interrupted for the qqq

Very important, the ema(21) was penetrated yesterday

The qqq is developing what looks like, in chartist language, “an inverted heads and shoulder pattern”

So what we need is the completion of the HS pattern with a close above 168.1

What we need for opening a long in SNPS is

QQQ breaking above 168.1

SNPS breaking above the high of the last ema(21) break

Stop loss below the last higher low, it should hold for a successful swing high

Shalom everyone