$QQQ TOP 20
Added 2023-04-02 22:52:00 +0000 UTCI spoke a lot in the $SPY chart so I won't labour on repeating myself. I think $QQQ is due a pull back regardless of what way the $SPY goes, it is looking extended on all accounts and the RSI is at 70 now, as is many of the mega cap stocks. Each time the RSI has briefly entered this area, it has pulled back substantially so I would expect the same thing to happen....but a pull back is also healthy here too, it is likely needed for both bulls and bears. The bulls need it to hold $300 in order to move higher...and the bears need it not to hold.
So What Now?
I think by the 1.618 Fib, $328 at the latest, this will likely start coming back to find support. We will be watching this as always throughout the week.
