Get started
Invesco QQQ Trust, Series 1
Long

QQQ as of Dec 16, 2020

By skktrader
Updated
Analyzing QQQ over time.
Note
Comment: QQQ has established new top and bottom resistances. All-time high established on Dec. 08 represents the top resistance (tested twice). Post-whale top resistance starting on Nov. 9 (tested twice, third time breakthrough) now represents bottom resistance.

Market is awaiting approval of fiscal stimulus and is currently supported by the initiation of the vaccine rollout and the FED to extend ongoing bond purchases:

1. Fed to extend debt purchases to boost flagging US economy - Financial Times
ft.com/content/74b6530e-9d69...

2. Congress closes in on a $900 billion Covid relief deal as Americans await aid - CNBC
cnbc.com/2020/12/16/coronavirus-stimulus-update-congress-may-offer-900-billion-relief-plan.html

Near-term prediction: QQQ may push through Dec. 8 top resistance and hold to establish new top resistance or channel through top and bottom resistances for the next couple of months.
Chart PatternsQQQ
skktrader

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.