There’s no doubt that the strength of the QQQ is relying largely on two patterns which are rather precarious right now: Amazon and Apple.
Although the ES shook off its federally-forbidden color of red earlier today, the Nasdaq remains down (for the millisecond, at least). There’s no doubt that the strength of the QQQ is relying largely on two patterns which are rather precarious right now. One of them Amazon:
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And the other, Apple:
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Once earnings are released later this month, both of these will resolve for or against continued Nasdaq strength.
This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.
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