Lets Face it…It’s NOT in Gold. The Gold market is Boring right now

The Action is in the General Stock Market

QQQ Daily

This looks like a classic Short Cover Rally

50% retracement in 3 weeks

But note the price has exceeded the downtrend line

Will shorts continue to get smacked or is this it ?

Could easily go up to the 62.8% Fibo where the 200dma is at.

Thats my line in the sand…note the 200 dma was support all the way up

Likely needs to be retested on the way down .

One thing for sure shorting is much harder than trading long.

sheesh