The QQQ is moving into a rather important hurdle on the way up from the November lows at the 68.60-69.03 area.
This zone includes a .786 retracement back to the recent high, a 100% projection of the first swing up along with a 1.618 extension of a prior swing. This price cluster decision also comes withing the context of a two-step or “zig-zag” pattern.
A failure to clear this key zone will leave the Q’s vulnerable to at least a healthy pullback and maybe more. A rally beyond this same key zone instead will vote for a continued rally towards the 1.272 target at the 73 handle.
Watch what the Q’s do around this key price decision and trade accordingly!