Major Whipsaw Action

Qqqq2006228

Just a quick post to note yesterday’s reversal.  Instead of following through on the prior day’s low volume move above the 50-day EMA and other recent highs the Cubes (NASDAQ: QQQQ) reversed sharply on the highest volume since the initial gap / breakdown below the 50-day EMA on February 3rd.  Today’s action should not have been too surprising given the yellow flags mentioned in my most recent market / Cubes posting. Stay tuned to find out whether the whipsaw action is a real breakdown or simple a head fake to kick off a spring rally.  Cheers!

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