NQ/QQQ Weekly Levels (Oct16-20)

Here the levels I'm working with this week.

The NQ recovered all of Friday's losses today with a hard reversal back up through the 55 ema which is now support. A break above the recent pivot high would confirm 382 fib support and put the 618 in play at 15600. A break below Friday's low would put the Aug 18th low in play.

A ton of Fed heads speaking this week
Earnings heats up with reports from TSLA & NFLX.
Potential escalation of the Israel conflict could cause extreme market volatility.

Comment:

Lower target has been hit. The Aug 18th low is support until its not. If the leve fails look for a move to the Aug 16th high and potentially a deeper move to the 200 SMA.
If support hold a move back up into the 9/21 emas is also possible. Expect high vol.
Today is OPEX.