Buyers bought the dip and defended where they needed to defend this morning.
As mentioned in this week’s Weekly Outlook video, the previous all-time highs (187.53 area) on the QQQ’s which was once resistance has become support.
The QQQ’s remain in an uptrend but currently trading in a tricky little broadening formation.
The issue now becomes that we are trading and sandwiched between the weekly open and the monthly open. Watch how it resolves.