QQQ is bullish if it forms a higher low at the 20/50-day MA support; then new all-time highs are likely later this year.
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For the Nasdaq right here for the semiconductors, we're just kind of dancing on it, really not showing much bounce if any at all, but the biotechs have been the stronger group
Nasdaq, as noted, came down to the zone we wanted to see it come into, and I bought a little position in here, like I said, because we have that anchor. We have the 20 and the 50-day moving average in here.
We have a lot of reasons to think that, and what I've been talking about is that I wanted to see it pull back into here, create a higher low, and again, I only have a small portion, but if it can do this early next week, I'm going to go to a full-size position because I think it bodes well for the rest of this year.
Not necessarily, you know, to deal uh December 31st, but that we can see new all-time highs in the Nasdaq, new all-time highs in the S&P 500.
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What this channel has said about $QQQ
Brian Shannon has only this one call on this stock.