$QQQ forming a potential breakaway gap on the daily. Question is whether this becomes an island reversal or if we're genuinely breaking higher into new territory.
The setup looks clean but we've seen these gaps fill before. Watch for follow-through volume and whether support holds at the gap level. If we hold above and push higher on conviction, this could be the start of a proper leg up. If we fade back into the gap zone, it's just another fake breakout.
Key level to watch: the gap fill around [prior close]. Hold above = bullish continuation. Break below = trap.
The setup looks clean but we've seen these gaps fill before. Watch for follow-through volume and whether support holds at the gap level. If we hold above and push higher on conviction, this could be the start of a proper leg up. If we fade back into the gap zone, it's just another fake breakout.
Key level to watch: the gap fill around [prior close]. Hold above = bullish continuation. Break below = trap.