QQQ: What lies ahead for the Tech SectorWhat does the QQQ graph tell us about the current situation?
The QQQ is not trending upward within the channel that began in 2023 and is currently in a correction phase. The recent decline has weakened the previous momentum, making a significant short-term upward price movement less likely.
Does this correction damage the overall long-term upward trend that started in 2009?
There is no indication that the long-term upward trend has ended. As long as QQQ holds within the key support area of 400 to 415, the broader bullish trend remains intact.
At what level is the technology sector likely to start rebounding?
The critical area to watch is 450 to 455. If this level holds, the market has a chance to stabilize and perform better in the second half of the year.
However, if the 450 level fails to provide support, the worst-case scenario for 2025 suggests that the technology sector may begin its rebound near 415. In this case, due to weaker momentum, the potential upside would likely be limited, with a peak expectation around 540.