By Licia Leslie
May 18th, 2025
Hi Shoppers,
I think the the Invesco QQQ Trust (Ticker: QQQ) is going to trade higher:
The next level of resistance is at $539.
Looking at the ProShares UltraPro QQQ (Ticker: TQQQ), it is primed to trade up to $78:
It has just cleared the 200 day moving average at $71.
The price of options has come down significantly since early April.
Wait for TQQQ to trade over $72 and then watch the May23 73 calls:
They should come down a bit as the stock rallies.
Use a close below the 200 DMA at $71 as your stop loss.
Trade Review
The S&P 500 (Ticker: SPX) traded higher on Friday. I still say we are working our way to the top of the pitchfork at $6126 with some resistance at $5967.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
