QQQ
From this all-time chart, we can see that price is still holding above the "all-time upper support line"; that is, above the 300s.
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IMO, we can swing between that support line and the "all-time resistance line", for the rest of the year.
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In that regards, we can hit the low 300s again sometime this quarter, since we are hanging high for now, on this quarterly chart.
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Also, in my opinion, we are possibly going to crack below that upper support line, later this year, or early next year. That's because of that "Channel Overhead Resistance".
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Cracking below that all-time support line would push the market into a long term downtrend, similar to what we experienced during the 2000 bust.
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As for the rest of this year, as long as we keep swinging between those 2 pivotal lines, we can run up till close to all-time highs, imo.
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As for today's FOMC, I think we are looking at an FOMC spike till the 321s/322s, before the fall back to fill the gap at the low 300s....where it meets that "all-time support line.....for the next rebound.
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Trade Safe - Cheers and good luck.
