Observations On Nasdaq NQU20 (QQQ)

Starting off quickly with the quarterly and monthly perspective we can observe a trending bullish behavior which occurs for quite some months now. The market one-time-framing higher since the support off the EMA50 on the monthly periodicity while the weekly perspective still trending but stagnates towards a potential balanced behavior. With a closer look we can identify an inside week break out which tends to be a bullish signal for this week. The daily though established a microbalance area with support from the previous bracket high. Currently, the market heading towards the higher extreme; therefore we can lean us on the balance extreme to conclude a rotational scenario. The hourly perspective testing some swing highs but has still potential to the upside. Looking for bearish patterns around the current swing high to possible pullback towards the lower balance extreme.

 

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