QQQ faces near-term weakness toward 625-650, which serves as a buy zone.

Ed, that's probably a really good idea. I did not do that in my initial breakdown here today. Let's do that now. The Q's has been somewhat similar uh to the to the SPY except it's still been beneath the trend line that connects the all-time highs.

It really has not shown strength, whereas SPY in some cases has. Now today however you can see we're currently sitting here at 703. This gap down takes us through the 20 50 and 100.

It also takes us to the low from August 24th. We have a gap that fills down here which we have not filled top of this candle here 70159. I actually think we've got a gap down going here until about 7.

What was that value I just read you a second ago and could not remember. Good lord. 70159. So, I actually think that might be a support if we end up filling this gap here.

Okay. So, there's not a whole lot left to fill there because a lot of that was uh, you know, taken care of on the 24th of August. Um, so there I mean the 700 support looks like that's certainly a level we're going to go to, but whether or not we hold up there, I don't know.

Uh, to me, this loss of the 20week SMA is notable. Uh, because the 20WE SMA Yeah. Um because, you know, it we've been uh holding up above it. Uh we briefly dipped beneath it uh um you know back in in the beginning of the year and then you know recaptured it uh with a Florida and then we kind of just hung out here going sideways for you know a good portion of of the summer and and now we're you know we're kind of giving that up a little bit here.

I think this could come into the 650 like six I'd say 625 to 650 is where this looks like it could come down to. I think there's going to it looks like based on where uh what what's happening here with the cues that there is going to be some weakness in in tech but it's going to be a buying opportunity.

Does that make sense? Yeah, absolutely it does. You're expecting some more downside, but that downside is going to end up being the spot to buy at some point and you've given out some targets for that.

So, okay, Ed here saying, "I like a 700 bounce." Um perhaps uh perhaps you get that here today. Perhaps that's shortlived. Um, that would actually wouldn't even be all that much further.

And frankly, if it overshot the filled gap to the downside, perhaps it does bounce from around 700, Ed. That actually might not be all that terrible.

Well, I think 13's trying to look ahead there, trying to give you a longterm view of what's going on. Yeah. And remember, it is a weekly chart that I was looking at at uh and saying that off of.

So, it could be, you know, this that way for the next several weeks as we approach the midterms. I mean, I I still expecting that there's going to be some weakness this month and and in October.

Um, but and we could see that uh that all that price action happen really fast uh to the point where as soon as um we get past all that uh that downturn, we just, you know, shoot right back up like we did in uh in March and April.

We'll also check the Q's while we're at it here. Q's tried to bounce early. Actually, looks like this is put in a pre-market double bottom around 701. We'll see if this is a head fake here out of the open.

And the Q's, which we just talked about having a potential head fake move. Well, looks like it did trade up right out of the open right towards that 65 EMA and came back in.

Q's continuing its move higher here. In fact, Q's setting up for a potential break of structure to the upside. Watch Q's here if it can get above 705 with Authority to borrow from 13.

Q. I am Q's have a bullish edge right now on this move up.

Okay, we did have we did get that break of structure on the cues. We do have higher highs and higher lows. Probably want to wait 3 minutes

AQ's are trying to hold this move, maybe make another leg higher. We'll see.

Uh Nquille saying the Q's are making their move higher here and indeed Q's taking the next leg higher here.

looking at the spy which I have a a window open on that the study is running on this also gave buy signals this entire candle up. Uh but without a close above that break of structure the bot's not going to take it.

Uh so the bot didn't take this but those signals looked good on both the spy and the cues for the move higher here.

And actually, the Q's look similar. So, this makes me wonder if we're going to have another pump in some of these names here. We'll see. Here's the Q's. This looks a little bit better than the spy.

All right, Q's starting to pick up the selling pressure.

Same with the Q's.