Pullback Accelerates

Today's action confirms that the expected pullback is in progress. Volume is running light so far which is a good sign. Support for the Qs is in the 44.00 to 44.27 zone. The most likely path for the pullback is a rally into Monday and/or Tuesday after an initial low today followed by a retest of today's low next week. Thereafter, the rally should resume into late August albeit with some additional shakeouts to keep everyone honest. Additional support for the Qs is in the 43.79 to 43.31 zone. This is not a time to panic out of long positions.