QQQ Downtrend Analysis
TECHNICALLY: I think the 300 will be key to watch. As long as we don't break out of the established downtrend, I'm looking for a retest. If we fall below 300, there's another support we may also retest.
ZOOM OUT: Important considerations here are ongoing vaccination efforts and global reopening. Since March 2020 tech has had the momentum - until now. I think we'll see the speculative money continue moving out of tech into reopening trades, especially with the 10Y on the rise (propelled by the end of SLR exemptions).
MY MOVES: Until tech breaks out of the current downtrend, I'm short. I believe we'll likely see a retest of the 300 level, and whether it holds here will be key.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
ZOOM OUT: Important considerations here are ongoing vaccination efforts and global reopening. Since March 2020 tech has had the momentum - until now. I think we'll see the speculative money continue moving out of tech into reopening trades, especially with the 10Y on the rise (propelled by the end of SLR exemptions).
MY MOVES: Until tech breaks out of the current downtrend, I'm short. I believe we'll likely see a retest of the 300 level, and whether it holds here will be key.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.