$QQQ — Market Forecast, 12/18/21
I think we will see a move up to that moving average, where we could see another pullback from the moving average reversing its role last week and turning into resistance during this week’s session — until we break it like we did in mid-October then we will see it as resistance.
If you’re buying technology here, trail your stops or establishing sell stops somewhere below that established support at the lows of the past couple of weeks. We also have heavy resistance at 400, with that line being tested almost 15 times now so that is a serious line.
There are open gaps below the market that will act as a price magnet.
I have gone on record — to my clients — saying that the market is topping out right now so be careful out there everyone.
If you’re buying technology here, trail your stops or establishing sell stops somewhere below that established support at the lows of the past couple of weeks. We also have heavy resistance at 400, with that line being tested almost 15 times now so that is a serious line.
There are open gaps below the market that will act as a price magnet.
I have gone on record — to my clients — saying that the market is topping out right now so be careful out there everyone.
Comment:
My price target was hit