QQQ Downtrend Analysis
TECHNICALLY: I think the 300 will be key to watch. As long as we don't break out of the established downtrend, I'm looking for a retest. If we fall below 300, there's another support we may also retest.
ZOOM OUT: Important considerations here are ongoing vaccination efforts and global reopening. Since March 2020 tech has had the momentum - until now. I think we'll see the speculative money continue moving out of tech into reopening trades, especially with the 10Y on the rise (propelled by the end of SLR exemptions).
MY MOVES: Until tech breaks out of the current downtrend, I'm short. I believe we'll likely see a retest of the 300 level, and whether it holds here will be key.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
ZOOM OUT: Important considerations here are ongoing vaccination efforts and global reopening. Since March 2020 tech has had the momentum - until now. I think we'll see the speculative money continue moving out of tech into reopening trades, especially with the 10Y on the rise (propelled by the end of SLR exemptions).
MY MOVES: Until tech breaks out of the current downtrend, I'm short. I believe we'll likely see a retest of the 300 level, and whether it holds here will be key.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.