$QQQ looks like it's still deciding between wave B and wave C. Last week I thought C had started, but the 20-week MA held as support — which means B might have more room to run. If that's the case, we could still see a push toward the September ATH around 749 before the real correction kicks in.
The confirmation signal is simple: a weekly close below the 20-week MA locks in wave C. Until then, we're in limbo. Don't front-run the move — let price confirm the structure. If we break down, that's your rotation signal. If we rally into 749, that's distribution zone. Position accordingly.
The confirmation signal is simple: a weekly close below the 20-week MA locks in wave C. Until then, we're in limbo. Don't front-run the move — let price confirm the structure. If we break down, that's your rotation signal. If we rally into 749, that's distribution zone. Position accordingly.
