QQQ - Three key observations emerge
$Invesco QQQ(QQQ)$ : Following the recent touch of the upper Bollinger Band on the daily chart, three key observations emerge:
1) Pullbacks to the 20DMA are the minimal expectation in the near term.
2) The 23% Fibonacci retracement level (around $511) has recently acted as support during previous pullbacks.
3) The stochastic oscillator has entered overbought territory, a significant factor to consider in the current market context; adding references for a pullback.
Will we see immediate consolidation/pullback, or will the price first make a move to the moon?
$SPDR S&P 500 ETF Trust(SPY)$ $NASDAQ 100(NDX)$
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