$QQQ issues bullish signal on daily chart

First, we always seek confirmation on a higher timeframe chart to improve the probability of a successful trade.  We want to trade in the direction of the trend.

Weekly Chart

• $QQQ weekly chart is bullish as all Ichimoku Cloud elements are properly aligned
• Proper alignment on a higher timeframe chart increases the probability of a successful trade

Daily Chart

• $QQQ issues bullish signal on May 8 as price closed above Kijun Sen
• The ETF experienced resistance around $108 so this may act as support 
• Kumo offers additional support after priced bounced off of it a few days ago
• Chikou Span adds further bullish confirmation since it is above the price curve from 26 days ago