$QQQ From Bad to Worse

Apr 12, 2022

The action today was downright ugly. To me, this chart is as bearish as its been since the rally off the recent bottom. The price can't hold former support. Yesterday gapped down from the close on Friday. The Japanese call that a window. Today's price action tried and failed to close the window, which is bearish in Japanese candlestick charting. I added an Anchored VWAP at the large green bar that tried to rally off the bottom. Breaking that AVWAP is not a good look IMO. If the lows are re-tested sentiment is going to get extremely bearish and the low could be breached.

Thoughts feelings and ideas?

Thanks for checking this out.

Good Luck To All!!!