If market breaks the bottom, it will swing one leg down to 280. If the market holds well here, it will be in trading range or go sideway for a while.
Today closes near low. Tomorrow is important. If this week closes near low with large bear body, it will be good sell signal for next week.
It will take some time for bulls to break previous lower high.
325 is obviously a resistance level for bulls. The question is how long it will take for bulls to break it.
Bulls have been doing well but some will take profit. So up trend may slow down.
EMA 20 and top of channel are resistances for bulls.
There has been 3 consecutive bear weeks. But It is rare to see 4 consecutive bear weeks. If it happens, it will take many weeks to come back.
It is good buy signal but not great buy signal considering the previous consecutive 3 bear days. And it doesn't close above Thursday high. It will depend on Monday if this will move up to new high or down to another leg.
QQQ will test the start of the channel. It looks like it is not far from there.
It is going to test the start of the channel