Looking at the QQQ and the USO (which has been leading the QQQ in the big short squeeze) we see that both have stopped at double resistance at the same time.
The broad market has been locked down in a tractor program to prevent selling on this grossly overbought condition we have now. A situation where the two leaders hit double resistance at the same time is normally not something that can be sustained very long.
Trade well my friends
Alan
P.S. These are links to good analysis reads on the web tonight:
At Investing.com the article is under Opinion/Stock Markets and is titled Technically Speaking: Only 4% From the Highs
At Investing.com the article is under Opinion/Stock Markets and is titled Dow Jones vs Silver Trading Volume Says It All
