Last night I was going over my charts and spotted more favorable levels on QQQ so I decided to focus on that ticker today, instead of SPY.
The corrective activity looked a tad cleaner as well. Here’s SPY and QQQ from Friday:
From my POV, the Q’s were giving us cleaner tells. Better wick action and better exhaustion clues. So, if I can get edge there, I’ll take it.
Price comparison tool reveals the correlation.
Enough of that, let’s jump in the step by step breakdown.