QQQ Bullish BiasQQQ is trying to stabilize after a sharp sell-off, and the tape is starting to lean constructive again. Softer inflation has revived rate-cut hopes and megacap tech is helping the broader recovery, but semiconductor weakness and notable ETF outflows keep the near-term tone cautious—especially with Big Tech earnings and Fed risk still in focus.
Technically, the higher-timeframe trend remains firmly bullish (weekly/monthly uptrend, price well above the major MAs), but the 4H and daily are still in “decision mode.” On 4H, price rebounded off the $608 demand zone and is now compressing between the 20-MA as dynamic support and the 60/120-MA ceiling. That backdrop fits a developing double bottom around ~$608, with the neckline near ~$626.
The clean bull trigger is a 4H close above $628, which would confirm the reversal attempt and open the door for a push through $629.5 resistance toward $632 first, then $638–$640. If price fails and prints a 4H close below $620, it flips the script back to a corrective leg, with risk of sliding toward $610–$608 and potentially probing $604
