Dave Barnhart maps support and resistance on QQQ using dark-pool prints reported 24 hours late. Key levels: bullish zone above $713.25, bearish zone below $711, with potential downside targets from $710 down to $698 if price breaks lower.
Chapters
Go ahead and have a look at Q's. We're looking at the late prints. These are ones that are reported 24 hours late. And look at some of these sizes. Here is $700 stock, and then there's 5 million shares, 2 million shares, things like that. This is billions of dollars. So going back and looking at our month, we can see here 5.5 million back here August 3rd. And this was a great swing entry point because we had pulled back, closing above the prints, and they did it again. There's another 8 million here that pushed us up into this consolidation. And so we've got this high where we've pushed off like 9-10 million prints, came back testing it again, pushed off this one, and now we're pushing below. So we've got this high, lower low, lower high, and let's see if we can come down here to about $700 or $687. We need to break above this $723 anyway, at least to get to $730. So let's map this out on the intraday. This one can move about $9. We're going to be bullish above $713.25. There's a 3.7 million share print right here, so we need this to be as Support, $714.09, $714.33, $715.54 up here. This is also my 200 simple moving average, $715.95. I actually stopped right here. I mean, the ATR is $9, but this can be difficult right here. You can continue on if you like. This is the post-market support. We've got a print, 2 cams, 200 simple moving average, 200 exponential, the $15.8 million in dark pool activity. So whatever you want, I cut it short here. This can rally, of course, but this is a pretty big lid on that. Just to be careful, we're going to be bearish below 711. We've pulled back to this S2 right now, right to the penny. We've got this print at 711.19, 2.1 million. So you want this as resistance. So we need to break below 711, maybe come back and test it, roll over, target 710, 706.98. So 707, that's S3. That's usually oversold, but we'll see what happens. Then Then we've got 70257 is S4. 705 is this 8 million that we discussed. Then we've got 69815, which is S5.
