QQQ Update Daily TF October 26
The QQQ is up +12% from the Oct 13th bottom & is now attempting to break topside resistance levels.
Things to note:
- Next resistance @ 50EMA & 0.382 FIB @ $285
- Resistance @ 100EMA & 0.5 FIB @ $295
- Bullish cross of 9 above 21
- BF measured move complete & new low @ $254
- Major support below $254 is @ $230
- Daily RSI not bad, 4HR reaching OB
The QQQ has gotten a little bit beat down by some earnings misses from big tech, so price hasn't gone as high (from a technical perspective) as the SPY & DOW, and RSI hasn't gotten as high either. (More big earnings to come today & tomorrow).
The thought process is going to be the same here as with the SPY.
Stay tuned
Things to note:
- Next resistance @ 50EMA & 0.382 FIB @ $285
- Resistance @ 100EMA & 0.5 FIB @ $295
- Bullish cross of 9 above 21
- BF measured move complete & new low @ $254
- Major support below $254 is @ $230
- Daily RSI not bad, 4HR reaching OB
The QQQ has gotten a little bit beat down by some earnings misses from big tech, so price hasn't gone as high (from a technical perspective) as the SPY & DOW, and RSI hasn't gotten as high either. (More big earnings to come today & tomorrow).
The thought process is going to be the same here as with the SPY.
Stay tuned
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