QQQ is holding strong this week above key moving averages, supported by ST bullish setups that look appealing, but it's important to watch for overbought signals & broader macro triggers for confirmation or caution
RSI nearing overbought levels means gains could slow or reverse without fresh catalysts & with Fed sentiment in focus (Powell's Jackson Hole speech), a dovish or hawkish tone could significantly sway prices (markets could swing down if investor expectations aren’t met)
- If QQQ pushes above $580 with conviction, the path toward $586–$589 looks paved; especially, if heavyweights like NVDA, AAPL, or MSFT continue to lead
- With the strong trends, using short-dated call setups (within 1–2 weeks) could capitalize on momentum, but keep risk due to time decay in mind
- A dip to the 50d MA (~$554) could offer a higher-probability entry zone; especially, if broader market sentiment remains constructive
- A breach below $540 & a move toward the 200d MA (~$515) would likely signal a deeper correction or trend shift
RSI nearing overbought levels means gains could slow or reverse without fresh catalysts & with Fed sentiment in focus (Powell's Jackson Hole speech), a dovish or hawkish tone could significantly sway prices (markets could swing down if investor expectations aren’t met)
I am not a licensed professional & these posts are for informational purposes only, not financial advice
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.
I am not a licensed professional & these posts are for informational purposes only, not financial advice
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.