Despite an over 1% move up in QQQ today the head and shoulders set-up is still alive and well. Yesterday I wrote: "This is a 240 minute chart of QQQ with the symmetry of a head and shoulders top. In this case it will probably take a few more bars, maybe into the end of the week, to complete the pattern." It looks like the, "it will probably take a few more bars" part was understated. Nonetheless, the next leg down will begin when the pattern is broken to the downside. That is coming, sooner or later. QQQ Fib Retracement - In The Zone
