Daily Stock Market Analysis June 16 2017 Friday

Stocks recovered from steep losses yesterday to close higher than the open. As expected the 50 MA area in the QQQ acted as an area of support. The Nasdaq 100 futures and QQQ looks like it is forming a double bottom in the 60 min charts and today we want to see that there is follow through to the chart pattern.

Let's take a look at what the charts are telling us:

Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com

Charts with the investing.com logo are courtesy of Investing.com powered by Trading View

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