With 11 straight days of uptrend on the QQQ, we’re starting to a rising wedge. Expectations are still bullish for December, but there might be a step back before (or if) it rises again in January. There’s also the usual end of year tax related sell-off at the end of the year, so we might be gearing up to that, hitting a resistance around 308-309 on the way there.
ZM has been holding around 400-410 since the drop after last week’s earnings report. I see that as a correction bringing ZM back to the channel from Feb to Sept. Looking at the 30 minute chart since December 1 shows steady buying around the 400-410 range, pointing to steady accumulation. My prediction is without any shocking good/bad vaccine news or other...
