Rules for the Range: I'll Be Right Back!

Some afternoon selling in the Nasdaq sees the QQQ ETF, update below on the 30-minute chart, quickly move down to the bottom end of what is a fairly tight range over the last week or so. The range illustrates just as quickly as we see the top end, price is right back down to probe the bottom end. The top end of the range also stretches back to late-August, not pictured below. 

I was a net seller today as far as my equity longs. But I am reticent to become too bearish, too soon, as we may simply be knocking out a range into the Fed and perhaps beyond. 

As you can see with the Q's, I am looking to see if the $145 area continues to operate as sound support for buyers. If so, then it pays to keep stalking fresh tech longs, even as AMZN GOOGL suspiciously lag. 

Also, as an aside, this is an interesting, contrarian piece about the Tulip craze.