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Invesco QQQ Trust, Series 1

QQQ - The Bullish Case

Od Longshortman
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Keeping myself level headed as the market could be moving from neutral to bullish in the near to mid term and I have been in my bear cave since January...and its been working, but could stop working. I remain skeptical of a resumption of a long term bull market until the 55 EMA / 200 EMA death cross has been reversed, QQQ price closes above the weekly 21 EMA and the major downtrend line is broken with volume, retested and held on the weekly. On the fundamental side the economic and political news is still not good. A miracle is needed to reverse the current fundamental outlook. I don't trade fundamentals, BUT I pay attention to what the Fed says and does and how the market responds.
Komentarz
Looking like a failed ascending triangle breakout.
Komentarz
Inside the major supply zone, which I based on the volume profile. I am anticipating a pull back to $306-$307 before this continues. However, it is a break of the range and could keep going. I have been buying October and Nov QQQ OTM puts for either a short term or longer term swing, which will be determined by price action.

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Chart PatternsTechnical IndicatorsTrend Analysis
Longshortman

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