$QQQ TOP 20
Added 2023-05-29 08:07:11 +0000 UTCLike with the $SPY chart, I can not rule out the possibility that this entire structure is a corrective wave as shown here from the Amber ABC count. I think there is simply too much frenzy towards Tech stocks/AI/Semi's and I don't see this as healthy, with valuations now still very high.....the market can of course continue going higher and higher and disregard all metrics of fundamentals but as a value investor, this is not what I want to see or encourages me to buy.
The $QQQ is approaching the 0.23 Fib at 351, having bounced very well at the 0.618 Fib at 259. These are two very important Fib levels and a break above 351 and this would be a big win for the bulls and Tech fans.
I am expecting a pull back before it happens.
