Nasdaq QQQ All Time Highs - What's Next?
Updated
Nasdaq is currently at all time highs, but it still has one more major hurdle to cross. The overhead trend line resistance that goes back to 2018 is the bears last hope.
The last time we hit this line we had a major sell off (please see my related idea below). We're hitting it again. If it tops here, it could be a long way down. If it holds above it, we may see Nasdaq go parabolic from complete euphoria.
The last time we hit this line we had a major sell off (please see my related idea below). We're hitting it again. If it tops here, it could be a long way down. If it holds above it, we may see Nasdaq go parabolic from complete euphoria.
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The move above the line didn't hold and a lot of bulls are trapped up there. Bulls tried again to push above the line today and were only able to hold the price there for about 10 minutes before a rapid sell off.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
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