$QQQ TOP 20

$QQQ continues to lag behind the $SPY and I believe this is down to $NVDA and $GOOG and the price finished at the amber 0.78 Fib, the trend is still clear here to the upside and towards testing the previous high too, so there is no rejection on the chart right now.

If the price breaks and holds above the previous ATH, we are looking at a 'Melt Up' Scenario, the ultimate exit liquidity situation.

I will take what I can from this scenario and be fully prepared then for the inevitable harsh decline to follow, I have no issue with this

All my positions are doing very well right now, some may be slower but generally we are having an outstanding YTD and year.

A number of important economic data prints this week ahead, PMI, JOLTS, Jobless Claims and the Big One for me will be the ECB decision on Rate Cutting.....we know last month they cut 0.25% almost all but confirming that the US would follow and they did but more aggressively.

If the ECB continue to cut or increase to 0.5%, we could see another pump in the market but also another indication that they feel the European market needs a bigger hand than expected and they should have lead with a 0.5% cut like the US Fed did.

The economic calendar for the week ahead (Sept 30th - 4th)

• Monday
• US Manufacturing PMI (Sep): This indicator gauges the health of the US manufacturing sector. A reading above 50 suggests expansion, while below 50 signals contraction.  
• Eurozone Manufacturing PMI (Sep): Similar to the US PMI, this provides insight into the Eurozone manufacturing sector's performance.  
• Wednesday
• US ISM Manufacturing PMI (Sep): Another key indicator of US manufacturing activity, the ISM PMI is closely watched by investors.  
• US JOLTS Job Openings (Aug): This report provides information on the number of job openings in the US, offering insight into the labor market's tightness.  
• Thursday:
• US Initial Jobless Claims: This weekly report tracks the number of individuals filing for unemployment benefits for the first time, providing a timely snapshot of the labor market.  
• European Central Bank (ECB) Interest Rate Decision: The ECB will announce its interest rate decision. Market focus will be on any hints regarding future monetary policy actions.
• Friday:
• US Non-Farm Payrolls (Sep): Arguably the most important economic data release of the week, the Non-Farm Payrolls report details the change in US employment. A strong report could support the US dollar, while a weak one could weigh on it.  

In addition to these major events, several other economic indicators will be released throughout the week, including:

• Australia: Retail Sales, Building Approvals
• Eurozone: Consumer Price Index (CPI), Producer Price Index (PPI)
• UK: Manufacturing PMI, Services PMI
• US: Construction Spending, Factory Orders, Trade Balance