QQQ is approaching a very strong resistance level, which aligns with both a previous supply zone and a diagonal resistance line. This presents an opportunity for a technical SHORT play. Why do I call it technical? Because the market remains very bullish, with no signs of a broader uptrend reversal—especially following strong earnings from GOOG . If a sell-off occurs, it will most likely lack significant follow-through. Nonetheless, it’s still possible to capitalize on it
Disclaimer I don't give trading or investing advice, just sharing my thoughts.
Note
This price drop is much worse than I expected. First, there’s a large overnight gap that the market hasn’t even attempted to fill. Second, the price has broken through diagonal support. I would refrain from buying this dip untill there is more clarity
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.