Negative Expectation Breaker on QQQ
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
August 30, 2025
Market Action
QQQ – Yesterday we pushed out of the range. Today instead of following through we gapped lower and closed down at the 21ema. This is a negative expectation breaker and sets a potential lower high. This was the bearish option presented yesterday.
News circling about tariffs which leads to uncertainty.
Bulls want to see a quick snap back and hold above the 21ema. Either a positive expectation breaker or upside reversal with a strong close.
Bears want to see follow through down.
Daily Chart of the QQQ.
IWM – pulling back
IBIT – gap and go lower following through on the downside reversal.
Trends (3/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Below
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above Rising
Longterm – 200 sma – Up – Above Rising
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