What I'm Now Watching in Tech (Nasdaq-100)

I am so impressed that the Nasdaq-100 is up over 30% heading into the holiday months. Also, there are so many headwinds blowing at it. I don't anyone saw this happening! Most people I know are bearish.

A very smart investor I know says "Pessimists sound smart, but optimists make money."

Whether it's rising rates or volatile tweets, it appears to be a challenging year, and yet, the Nasdaq-100 has defied the odds. It's surprised many.

Can it continue?

I've added a simple trend line that I'm watching in tech, a chart of QQQ, and some arrows to showcase the validity of this trend line.

Rejection after rejection.

Lower high after lower high.

There seems to be supply above.

Thus, I have to ask: Will something give? Or will it breakout again? I'll use this trend line as my guide going forward.

I currently am long some tech, but also being a bit cautious with the headwinds our there. Let's see what happens next.