$QQQ TOP 20
Added 2025-01-26 13:25:38 +0000 UTCThe Mega Caps are reporting this week which means market makers will likely take advantage of this situation after a very bullish week this week....meaning expect some volatility leading up to Weds and Thursday, they will try to shake out weak hands who are not comfortable holding throughout earnings reports.
I want to be very clear here, a pull back to the smaller green fibs is healthy, welcomed and to be expected after that extremely bullish bounce since the start of the year.
A retest of the 50 Day MA at the 0.5 Fib at $516 is exactly where the market makers would like to have the $QQQ leading into $MSFT, $TSLA, $AAPL and $META reporting on Weds and Thursday.
So let's stay on message, the charts continue to show that the Melt Up scenario is the likely direction next.
We can see clearly in this Primary Wave 5 that:
Subwave 2 held on the 0.618 Fib - standard, in Sept
Subwave 4 held on the 0.38 Fib - standard, in Jan '25.
