Weekly market breakdown
Hello there,
I am back from my vacation.
Hopefully, now I can share more ideas.
As for the QQQ, it is strong af, at first glance...
We have higher highs and higher lows. Broke above the R1 Pivot and managed to hold. MACD also looks good.
But on the other side: we are approaching the weekly resistance at full speed. Volume is drastically decreasing from month to month. And RSI is oversold.
I am expecting a pullback soon, however since everyone is buying up the dips, I have no idea how big it will be.
Support: 364.72 (R1-P); 354.52 (20-EMA)
Resistance: 389 (Weekly-r); 414.9 (R2-P)
As for me; I am watching from the sidelines.
I am back from my vacation.
Hopefully, now I can share more ideas.
As for the QQQ, it is strong af, at first glance...
We have higher highs and higher lows. Broke above the R1 Pivot and managed to hold. MACD also looks good.
But on the other side: we are approaching the weekly resistance at full speed. Volume is drastically decreasing from month to month. And RSI is oversold.
I am expecting a pullback soon, however since everyone is buying up the dips, I have no idea how big it will be.
Support: 364.72 (R1-P); 354.52 (20-EMA)
Resistance: 389 (Weekly-r); 414.9 (R2-P)
As for me; I am watching from the sidelines.
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