Bullish QQQ Long QQQ
QQQ has long since broken out of its downward sloping resistance. There are a lot of challenges facing the market right now with talk of an imminent recession, fed rate hikes and the like. My sense is that there is still room to go in this rally. Too many are bearish and there is still a lot of cash on the sidelines. Seasonality and the powerful presidential cycle all point to the rally continuing for a while longer. Powell speaks tomorrow and he may try and talk the market down some and admittedly the market is stretched short term. I'm looking too add to QQQ on any pullback.
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