Nasdaq 100 (QQQ) - Resistance meets MomentumThe Nasdaq 100 (QQQ) is in a struggle with long term resistance of the trading channel and that of the momentum buyers. You can see the rejection several times off resistance, but every time the momentum buyers push it back up. I am still unsure what is going to happen here. We are at the point where bad news is good news and good news is better news just like in 21-22. If momentum can get above and hold the resistance, we could be in for another 2022 like bubble. I am unsure if we are just going to squeeze and pop through or a good 5% or so correction to bounce from. As we saw before, once momentum gets going it can stay irrational for quite some time.
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