QQQ: The Downtrend
October 2018 - April 2019: 190 days to return to previous level.
February 2020 - June 2020: 100 days to return to previous level.
This current correction is at day 196 as of this writing. I'm expecting a retest of the upper trend line due to bullish divergence on the daily. A breakout of the upper trend line and 200 MA would confirm a bullish reversal. A breakdown below 291 could see around 260 as a next level down.
February 2020 - June 2020: 100 days to return to previous level.
This current correction is at day 196 as of this writing. I'm expecting a retest of the upper trend line due to bullish divergence on the daily. A breakout of the upper trend line and 200 MA would confirm a bullish reversal. A breakdown below 291 could see around 260 as a next level down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.