The Nasdaq 100 $QQQ just closed right under its 200-day moving average.
This is one of those lines people watch. When price sits below it, the mood shifts. Bulls get cautious. Bears get louder.
It's not a magic line, but it matters because enough traders believe it matters. Self-fulfilling, in a way.
Watch how it behaves here. Does it bounce back above quickly? Or does it keep sliding and turn that level into resistance?
The 200-day has been a decent barometer for whether we're in a healthy uptrend or something messier. Right now, we're in the messy zone.
This is one of those lines people watch. When price sits below it, the mood shifts. Bulls get cautious. Bears get louder.
It's not a magic line, but it matters because enough traders believe it matters. Self-fulfilling, in a way.
Watch how it behaves here. Does it bounce back above quickly? Or does it keep sliding and turn that level into resistance?
The 200-day has been a decent barometer for whether we're in a healthy uptrend or something messier. Right now, we're in the messy zone.
