The tech-heavy 
QQQ surged 8.84% last week, compared with the S&P 500's 5.9% in its sharpest weekly rally of the year. This welcome inflation news, combined with a huge drop in the dollar and market rates, launched an epic rally. The QQQ for its part soared 7.4% on Thursday alone, reclaiming its 10,20 & 50-day moving averages within the single session. Many of the beaten-up growth stocks made double-digit percentage moves, including Amazon. (
AMZN), but just about every stock came along for the CPI ride.
QQQ have currently broke out of a consolidated 6 weeks range in similar fashion to to July 2022 period. During the time, QQQ staged a continuous rally along its rising 10/20-day moving averages towards its medium term downtrend line.
The support level to watch forQQQ this week is revised up to 270, undercutting its current 10/20-day moving averages.
Bull Case: Reclaim above 310 declining 20-day moving average.
Bear Case: Breakdown of 270 level, undercutting its current 10/20-day moving averages.. The next support level is at 260.
QQQ surged 8.84% last week, compared with the S&P 500's 5.9% in its sharpest weekly rally of the year. This welcome inflation news, combined with a huge drop in the dollar and market rates, launched an epic rally. The QQQ for its part soared 7.4% on Thursday alone, reclaiming its 10,20 & 50-day moving averages within the single session. Many of the beaten-up growth stocks made double-digit percentage moves, including Amazon. (AMZN), but just about every stock came along for the CPI ride.QQQ have currently broke out of a consolidated 6 weeks range in similar fashion to to July 2022 period. During the time, QQQ staged a continuous rally along its rising 10/20-day moving averages towards its medium term downtrend line.The support level to watch for
QQQ this week is revised up to 270, undercutting its current 10/20-day moving averages.Bull Case: Reclaim above 310 declining 20-day moving average.
Bear Case: Breakdown of 270 level, undercutting its current 10/20-day moving averages.. The next support level is at 260.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.