QQQ Facing A Slowdown
It has been four months since my bottom call of the QQQ (the purple vertical line) . In that post i've discussed two types of correction. One of the scenario's is on the chart still. For the other, see my previous post.
It looks like it is time to take some profits from that trade (if you've managed to take the trade four months ago), as the price is touching the lower resistance level.
For me, this is also one of the most intresting resistance levels as it is close to the previous all time high. If the index manages to break this one, new all time highs are extremely likely, but it is too early to say for certain.
It looks like it is time to take some profits from that trade (if you've managed to take the trade four months ago), as the price is touching the lower resistance level.
For me, this is also one of the most intresting resistance levels as it is close to the previous all time high. If the index manages to break this one, new all time highs are extremely likely, but it is too early to say for certain.
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