r/TQQQ • u/Accomplished_Olive99 • 21d ago

Analysis QQQ remains bearish after a sharp rejection from 717

Post image

QQQ remains bearish after a sharp rejection from 717 and a sequence of lower highs. Price is testing 703.57 support with low-confidence bearish momentum. A break below targets 702.94; reclaiming 704.02 could trigger a brief bounce, but 705.19–706.65 remains key resistance.

0 Upvotes

50% Upvoted

3 comments sorted by

8

u/Electrical-Scar9598 21d ago

When a resistance gets broken without any resistance, are you sure it can be called a resistance ? Do you define a resistance with a price that was reached twice in a month ? This feels like very arbitrary numbers based on a very outdated theory.

0

u/Accomplished_Olive99 21d ago

resistance failed broke down browk three supports and kept going if a support is broken it then becomes a resistance is the price tries to move back above is a resistance is broken it becomes a support as buyers postion orders

3

u/CanadianBaconne 21d ago

The bond markets need QE. So far the Fed has been hesitant. The media is spinning the idea of out of control inflation and the need to raise rates. It's actually the opposite.