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June 12th, 2020: QQQ Chart Update

Posted by pugsma on June 12, 2020

9:00 am EST (pre-market):  QQQ has held the up channel since the March 23rd low and the drop to 233.96 yesterday did not invalidate the long standing wave count on the QQQ, as minute (4) did not overlap minute (1) at 231.76 within minor 5 of major [1].  However, the alternate (blue) wave labels would align the wave count of QQQ with SPX and the drop to 233.96 was a near 50% Fib retrace of the advance from 216.13 to 247.82, which fits with a minor 2 of major [3] wave.

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

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