Invesco QQQ Trust Series 1 (QQQ)

[pstuartb]

OT - HBs and financials diving along with retailers. Rut conspicuously weak. SPX looked like it was backtesting the breakout level of 1367, but then fell below that by a few points.

The jury is still out on how the trading range resolves, but I find today's action meaningful. I had thought we might rally into early March to work off the oversold breadth readings, but I'm beginning to change my mind. Resolution of this trading range to the downside now looks much more possible to me.

I'm watching the 85 level on $BKX as a tell.

Still short DHI from yesterday at 16.83 and happily so.