nope, no hammer pattern late selling on increased volume . qqq-- at the cross roads. Either hold this level or there is loads of room for it to fall , chart is real scary (see the weekly ) . double bottom or goner. HUGE week coming up, gotta believe a defense occurs before Powell speaks mid March
this is what i mean;
qqq
2 yr weekly
i think it holds (may pierce the tail of the 4th candle from the far right, but bid back up) . And volume has decreased (bottom histogram) over the last 3 weeks, selling maybe drying up. i think a catalyst will need to break that, and if it does expect a huge spike on the VIX . That catalyst could very well be Putin, so could happen. If no Putin i would be surprised if it loses before Powell, mid Marcch. Plays in a box until Powell 365-340. If it loses this level? gee 315 is iin play- that would then be a 22% fall for the qqq from its high. Holly molly
i sold puts on the qqq , 362 paid over 2%. Needless to say assisgned lol and in the red . Have since sold the May call @362. Paid 2%. Looking at in another way, dropping my cost basis.
again, and its just one persons opinion i think powel fucked up. Rate hike in Jan and get it over, still had the earnings to possibly repair. By waiting he's left so much investor doubt .
(i was talking about the fiscal conservatives W, they r dead )