NASDAQ Getting Hit a Little Harder Than it Apppears

Looking at the QQQ in regular hours doesn't really show the extent to which it getting was hit this morning, nor what a soft spot it's in.

 QQQ 3 min used for timing with a very soft spot, almost like the top of an egg that is soft.

I used this 10 min chart  to show where the trend was under accumulation and building a study, solid base in white, the trend starting where it is in mark up and sold in green and in yellow where it's still strong , but starting to show some weakness/distribution and red a very weak area that can really break at any time, full on selling/distribution/short selling, but remember for every seller there's a buyer, this is often called churning in which strong hands sell shares to weak hands or retail. You'd have to be weak hands to be buying up here.

 This is the NASDAQ futures since before the cash open, this is what  I meant in that the NASDAQ is actually looking worse than what the Q's show.

As far as the strongest probability charts, these are the 60 min charts for QQQ, QLQ and QID (the last two are leveraged long QQQ and leveraged short QQQ). These leveraged ETF's do move in similar price fashion, that's what they are meant to do, but not necessarily in similar 3C fashion, because volume is not the same, that's not what the ETF is meant to recreate, only price, thus these are excellent confirmation assets.

 QQQ 60 min

QLD 2x leveraged long QQQ

And the inverse QID, 2x short QQQ, which should look like the mirror opposite for confirmation.

These are very strong charts at 60 minutes, they are the highest probability resolution of this area where we have a rounding top.