If tech bounces here...I did a 3 and 6 month post on SPY, I will link that idea below. But I thought I would quickly touch on QQQ's 3 month range.
The upper and lower targets are in the chart. QQQ is testing the 3 month bullish threshold. If we bounce here, the expected TP is around 405, with the initial TP being 397.
If we actually bounce here... I am just buying TQQQ and calling it a day.
I am holding a small TQQQ position already that I scaled in some weeks ago, but will add to it. Or go with QQQ shares directly. Still on the fence. But I will be long in some capacity if we bounce here.
Else, look for support at the bearish threshold. That would be my stop out. A bounce and hold there would be where I add. A break of which I would be out period.
Its also interesting to note that the current 3 month baseline is right on the bullish threshold. Very curious. Have no clue if it means anything but VERY.... CURIOUS.
Safe trades everyone!