$QQQ TOP 20
Added 2024-11-17 19:49:21 +0000 UTCI uploaded this chart on Friday just in case there was any concerned members going into the weekend thinking the market had started its correction.
We can see that the green line did not hold, which was the previous ATH line
But the price action is still in the rising wedge and still above the 50 Day MA
So for me, there is no confirmation that the market has started its correction....but losing the green line is showing some weakness, there are red flags shooting up everywhere right now.....but this can be expected in a Wave 5.....otherwise we would not be in an extended territory or at the end of a Bull market.
$NVDA reports on Weds and as always, a lot of pressure will be on them to deliver
They are the gel that keep all of the Mega Caps together, as they are $NVDA's biggest customers.
If sales decline, it will likely not be welcomed warmly by the market.
If the 50 Day MA is lost here, we would have to expect a fall down to the 200 Day MA at $462, which is still above the wedge breakout level from Sept.
