A deep dive that takes out a six-month strong rally and stops right on its 50 day moving average. Followed by a just as steep retracement rally right up to the Fibonacci termination window, as well as the bottom of the just broken six-month long upward trend channel. Now we have a repeat pattern on a larger scale, with QQQ reaching for its Fib window (but not there yet). Weekend Update Tuesday Mid-Session Wednesday - Mid-Session As of two hours before Wednesday's close the highest and best evidence is for today's rally to suffer a hard reversal, either before the close, or tomorrow. QQQ 270 remains key to a much more vicious decline. Only breaking through the top of the Fibonacci window (about 290) changes the analysis.
