It looks like there is an ascending triangle on QQQ that could come to a head in the next couple weeks. I am hoping it breaks out upwards but it could very well slip down back towards 300 again.
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Today ended just about at the upper bound of the trend. I'm guessing we'll see the price retract tomorrow morning but if it ends the day higher it could be a breakout from the trend.
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It's not actually the end of the day yet but the price did seem to break up and out today. I won't be fully convinced of anything until the end of the trend is passed. I've seen what seemed like breakouts and then the price sucks back in.
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QQQ slipped back into the trend a couple days ago but NVDA earnings and price pulled it back out. Today QQQ hit it's 52W high and is still right around the high it has been at for the day. I'm hoping this means a debt ceiling resolution is expected and mostly priced in. Next week on Tuesday and Wednesday we should get some sort of indication what is going to happen with that.
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Well Saturday night and it sounds like the debt ceiling is resolved so we might see some upward movement on Tuesday assuming not everybody priced in the resolution. 360 or 370 will probably be the next real resistance.
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The price broke into the 360 range, with the fed potentially not raising rates this week the 360-370 resistance might not be as much of a thing as I thought. I still kind of think we might see some sideways action at around that range though.
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I'm guessing we hit 365-370ish range and bounce down again before going up more after next week.