6/16/22 Recap, We're Hanging By A Thread

Sharp move down threatens to break key technical levels.

Well, let’s start with the good news, the QQQ bounced right where I’ve been saying we should all week at $269, I think we got to $269.25 or so. The 200 week avg is such a critical level that we have not closed below since 2009, hopefully tomorrow isn’t our first time. Im writing this at 3:20 so a lot could change into the close but I have a meeting to run to and wanted to get this out. Right now, the QQQ had a sharp bounce to $271 after that touch of the 200 weekly. Take a look at the chart below, you can see our last touch was the covid crash. So significant day.