Qqq.. No crying in the casino

[etfs]

Pullback from summer channel top to channel bottom is underway and almost finished..

But go to your weekly and zoom out a decade
Logarithmic

So yes, we are at the bottom of a 6month channel but we are still at the top of a 15year trendline and I don't think we last above here much longer..

Alright so I won't go into the sectors on this one , I'll just stick with Qqq and the next couple of weeks of price action to help with direction

So 607-609 is support and 612-614 is resistance..

Don't overthink this..

Below 607 and 600 comes (50sma)..
I think a break below 607 may come next week.

So if you want to short either wait to see 606 or wait for a retest 0f 612-614. Shorting here near support is stupid and stressful.

If you want to scalp the dip, I'd buy and 608-607 with a stop below 606.50.. target is 612..

Strong long only comes above 620, the we will tag 626..

Now here's my opinion on how long I think this will go on and how deep we can dive.

I think 589 gap close is the target for this pullback here, but that only comes with a break of 600. I don't think we will cut straight through 600 either. Most likely a nice bounce comes there.

From 589 we should have a rally back to 610 minimum.

You want to know if we will get another high this year? Like I said earlier we are at the top of a 15yr trend which we've been grinding higher on A.I Deals/News.

If we don't break below 607 by late next week then I would consider this pullback over and done but 607 is key.

[EmTeam]

Haha, facts — emotions have no edge in this market.

[Rimon Khan]

Trade the chart, not the drama.