$QQQ TOP 20
Added 2023-10-08 21:20:02 +0000 UTCThe $QQQ was uploaded during the week and we spoke about how this continues to perform better than the $SPY and the $IWM.
I have added in the 0.38 Fib as this is where Wave 4 typically pulls back to and we can see that it has so far done exactly that with also a little margin of safety.
The 200 Day MA continues to be a lot lower and has not been needed as a support level so far.
Unless something drastic happens to one or two of Mega Caps, I do not see this coming back all the way to the 200 Day MA, especially not if $AAPL and $MSFT continue to stay strong.
The 50 Day MA at $368 should be the next test for the $QQQ, flipping this to support and the bulls are in cruise control.
