QQQ holding last trend line
OBV divergence signaled a potential correction, as price were making higher highs, OBV was making a lower high.
On the plus side, we are making higher lows since march lows.
There is a resistance trend line that is still holding, and is now coincident with the 61.8% Fibonacci retracement line.
A buy with a stop below the trend line has worked great the last 3 consecutive times it tested.
If we do keep selling off, I expect the next place we could pause at the $298 level, just below the 200sma.
On the plus side, we are making higher lows since march lows.
There is a resistance trend line that is still holding, and is now coincident with the 61.8% Fibonacci retracement line.
A buy with a stop below the trend line has worked great the last 3 consecutive times it tested.
If we do keep selling off, I expect the next place we could pause at the $298 level, just below the 200sma.
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