By Licia Leslie
December 15, 2024
Hi Shoppers,
Friday’s action created a highwave doji in the Invesco QQQ Trust (Ticker: QQQ) just below the median line (resistance):
This candle represents mass confusion.
Neither the bulls nor the bears are in charge here which is denoted by the nonexistent real body; the opening and the closing prices are the same.
This means uncertainty which is all it takes for a change in trend to occur.
Watch for QQQ to trade lower with support coming in at $525.87 and then $520.40.
If it decides to continue to rally, resistance is at $533 and then $535.64.
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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