QQQ channel rejection in play
Key resistance here on Nasdaq. Interestingly, SPY has a more bullish support setup on a major channel, so this juncture is really a massive pivot point. If we go much lower I think the market can drop to areas near the October lows.
Note
292~ area is an A=C on lower timeframe, I'd expect support there on the daily, and then pivot point at 283 next. The red arrow scenario is far from guaranteed, one level at a time for now..
White Lake Investment
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White Lake Investment
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.