$QQQ TOP 20
Added 2024-10-01 16:32:09 +0000 UTCOk, we have a rejection at the 0.887 Fib at $494 and the price has pulled back today and is likely going to test the top of the wedge line again, we can see that the 50 Day MA is waiting here too to offer support as well.
This is just the first rejection at the Wave B level, price action can make another attempt at this level again, so I would not be changing any of my position on this initial test.
There are plenty of support levels that can come to the aid of the bulls here.
Semi's need to get onboard tho, if $NVDA turns around and breaks out of its wedge then the $QQQ will go to new highs and the other Mega Caps will join the party
It really comes down to $NVDA here.
