Just like the SPY, QQQ also managed to hold above major daily SMA line (50) but below major structure (read SPY's analysis in link below). If the 111$ zone will act as resistance, it could push price lower towards a bullish pattern completion, near 107$ and the daily 200 SMA line A close below the 50 SMA line will be a nice confirmation signal that the price indeed intends to reach lower.
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