QQQ: Bears Are AngryNothing looks bullish and everything looks bearish on the QQQ.
Lower high, lower low, broken down parallel channel, under the 21W and 20W MA, RSI rolling over after visiting the red Bollinger band, and price entering low volume zone since the drop in 2022.
Based on the volume since 2022, 318-325 seems like the most likely long-term support for QQQ. It corresponds to the 0.5 fib level and where the most volume is. We also saw strong support at this level back in spring 2022.
Please keep in mind that nothing goes down/up in a straight line. I expect us to revisit the MAs and test them as resistance.