$QQQ TOP 20
Added 2024-06-23 19:10:00 +0000 UTC$QQQ is sitting between two Fib levels now, unlike the $SPY chart which rejected at the $550 level this week.
$AAPL and $NVDA had notable pull backs this week but this is not represented very well on the $QQQ chart which leads up to believe that the money was still kept in the Tech sector and rotated nicely.
Like I said on the $SPY chart, the price action here is also quite above its 200 Day MA and we all know that a retest of the 50 and 200 Day MA's are common occurrences and when the 200 Day MA is lost, this is signals significant weakness which translates into correction territory, which is when we prepare to start adding.
The $QQQ and the $SPY under their 200 Day MA would trigger us to start considering DCA'ing into these positions and increasing our positions below the 0.5 Fib then.
So I continue to accumulate cash to take advantage of this when it happens and I intend to add very aggressively, so the more we can accumulate and take from this current bull market trend, the more we can add when the correction completes.
