📈 Both 
SPY and 
QQQ just broke out of bull flag patterns after a strong recovery from the April lows.
🔍 Technical setup:
Flags formed after a vertical rally ✅
Breakout candles with follow-through ✅
Still riding key EMAs (20/50) with decent volume ✅
📌 Targets based on flagpole projection:
SPY → ~582–590
QQQ → ~505–510
However… mind the context:
We’re heading into macro risk events, and positioning is getting crowded.
These breakouts need confirmation via volume + higher high closes.
SPY and QQQ just broke out of bull flag patterns after a strong recovery from the April lows.🔍 Technical setup:
Flags formed after a vertical rally ✅
Breakout candles with follow-through ✅
Still riding key EMAs (20/50) with decent volume ✅
📌 Targets based on flagpole projection:
SPY → ~582–590QQQ → ~505–510However… mind the context:
We’re heading into macro risk events, and positioning is getting crowded.
These breakouts need confirmation via volume + higher high closes.
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.
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.