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jaxdog

$QQQ Still in Up Sloping Channel

Long
Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)  
jaxdog Updated   
NASDAQ:QQQ   Invesco QQQ Trust, Series 1
Trend Analysis Chart Patterns Technical Indicators DIA SPDR S&P 500 ETF (SPY) NASDAQ 100 CFD QQQ
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trendanalysis chartpattern indicator dia spy ndx qqq
QQQ Until and unless QQQ drops out and stays out of this weekly channel it seems obvious to me that bulls are in charge. Of course, that can change and quickly but until it does, I remain in the bull camp. This pullback and sideways motion should help set-up more stocks for good entries. All TBD.

So far, (it's mid-day on Thursday so a day and a half to go) we are having an inside week. That is worth noting should it hold thru tomorrow.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
Comment:
Here is a perspective with a Monthly Chart:
snapshot
Comment:
QQQ needs to get back into or at least start tracking up if this Bull Channel is going to continue. It is holding, so far and by a thread, an area of support. If we lose that I would think there is more downside. All TBD. Keep the yellow flag out for now.
snapshot
Comment:
QQQ undercut the Aug 18th low of 354.71 and is currently trading a just above that level at 355.15. It would be a positive development if it can close above that level. All TBD. I am mostly cash with small positions in RIVN , PCAR , WSM (largest), and ACMR
snapshot
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I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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