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5 Day Moving Average

The Qs are attempting to stabilize above the 5 DMA. This is not a reason to buy, it is a reason to look at shorter timeframes for evidence that the market is actually starting to turn. With the Qs below the declining daily VWAP we need to see a move above that daily benchmark at a minimum before any purchases can be considered low risk. If the Market can make it up towards 3305 I would consider purchasing with a stop near 32.80. This is a very high risk trade setup.

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Brian Shannon's weekly swing trading analysis of stocks, crypto, and market structure.