The QQQ has made a fresh 11-year high today. There's the chance that we could get a climactic capitulation move followed by a strong (healthy) correction, but then there's the chance that price completely detaches from rationality. Over the course of 1-year the QQQ has tried to achieve the $60-mark 4-times. Now it seems to be accepting $60 in its 5th attempt. Some bearish scenarios would be a blow-off top at the trend-line throw-back or a 2b-top setup. Otherwise, this rocket could be ready to launch. Maybe we end up seeing $70 before $55.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
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