Double bottom for QQQ on its way?
This week qqq lagged the spy, it failed to break previous high or even touch it. The market reacted poorly to snap earnings last night which overshadowed all tech today. With more tech earnings on the way next week its possible the market does not see much more upside with current inflation. It looks likely that we will retest the lows of two weeks ago. QQQ often forms a double bottom before returning to new highs, which I still expect by the end of the year. I'd like to hear what you think as well! Also, I did take a position in sqqq today with stoplosss at $7.25, I will stop out if QQQ resumes its climb on monday.
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