$QQQ TOP 20
Added 2024-12-08 21:33:13 +0000 UTCWe can not predict the exact date when the market corrects and we shouldn't try to either, we can only verify when there is resistance, a rejection and then confirmation of a reversal.
This is the only way to confirm that a trend has changed from bullish to bearish and vice versa and it is the reason why we have stayed in a lot of our positions, in spite of the number of warnings and red flags throughout the year.
The $QQQ is still in its rising wedge now and starting to test important Fib extension levels, with the 1.618 Fib being the most important one for me at $548
If we see any parabolic moves in the market from this point, it will be another signal to expect some resistance soon, followed by a rejection.
Right now, all we see is the market melting up with no resistance confirmed yet.
