Major rebound in $QQQ after Powel calmed the markets yesterday

We had a major rebound in $QQQ after Powel calmed the markets yesterday, but the reality of rising interest rates is hitting technology stocks a bit today. There is a very interesting pattern developing on the charts – I am looking to buy volatility in the $QQQ as the ultimate direction is still unclear.  If we break the strong upward trendline, which happens to be very close to the 50D moving average, that will be very bearish in the near term.  If we get solidly above the recent highs, uptrend will look like it held.  Either way, It looks like we are poised for a large move and I am looking at option straddles to position for this.

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Major rebound in $QQQ after Powel calmed the markets yesterday

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