QQQ & SPX: Bounce at the 50DMA
1. $Invesco QQQ(QQQ)$ : Bounce at the 50DMA in confluence with the volume shelf (more exactly, at the PoC). 20DMA is the line to watch for the very likely bounce incoming, unless the bullish setup is vanished during the futures session during the day off.
The weekly setup is not out of the woods just jet and the series of lower lows is clear.
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2. $.SPX(.SPX)$ - Considering price action, there are good chances for a green Friday. The 50DMA is the first line to recover, and the 20DMA could be the biggest challenge considering the downtrend dominated by that blue line. The bearish crossover in moving averages looks imminent.
The 5 Monthly average was tested today again, losing $5,858 presents a very high likelihood to reach $5,650.
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- KSR·2025-01-09👍LikeReport