As DXY starts to rise from the 90s level, I am not too confident with Nasdaq, and of course the tech ETF QQQ. As Dollar Index's long-term inverse symbol, QQQ is forming an ascending wedge from a technical perspective, and less QE would not favor tech sectors, in my opinion. I am looking for a quick 3-5 % retracement very soon. A safe TP should be around 330.
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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.