$QQQ - wave count - repost for twitter share

Well after yesterdays flush we have now blown past invalidation on bull count sending us spiraling into a deeper WXY correction. Right now we are finishing off Wave A of Wave Y. We blew past the 23.6 retracement today as well, so next most likely spot for bottom is the 38.2 which is in the low 350's on QQQ.

Right now we are looking to string together a 3 wave rally (notice MACD and RSI showed signs of the start of a reversal yesterday). We could still reverse lower, if that happens it is a good dip buy spot for the next week or so as QQQ should retrace back up to approx 367 (right by downtrend line) for wave B. From there we likely get rejected and flush down for our final leg down, wave C, to finish off Y.