NDX-100 QQQ has recovered 70% of its Tues-Thurs Swoon. Now What?

The e-NDM (PowerShares QQQ ETF (QQQ) has recovered 70% of the entire downmove from the May 16 all-time high at 5727.25 to the May 18 low at 5550.50.

As long as the price structure remains north of the trendline off of the 5550.50 low, which cuts across the price axis in the vicinity of 5652, we cannot rule out upside continuation that jams the (remaining) shorts late on this Friday session.

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