Tech is one of the few things fueling the market right now. Hard to see evidence to short QQQ here. Expect it will move back up after this short pause recently.
Looks like it has good support at $122, with some possible chop at resistance of $125. Looking for a rise to upper resistance at $127 if the MACD can open up this week.
The MACD is slowly turning bullish and the RSI is almost flat or slightly increasing but in a higher level. So there is still demand, but with that mildly bullish MACD, I see it continuing a slightly higher or sideways push till that MACD turns more strongly bullish. That would be a better buy point.
