Market open in green, QQQ was in the same realm, thinking that the market May be ready to bounce back with the decern earning reported by NVDA. However the situation took a sudden turn and everything went south again. QQQ is sitting on the support of this channel It has been trending since begining of2023. If it breaks this channel, things gonna get really nasty. It needs to close above 510 this week before we can see possible reversal.
QQQ only down slightly over 5% from its recent swing high, but it already feels like the whole market is crashing, perhaps it's not the amount it has drop but rather the speed it had. It was exactly a month ago the share price is exactly at this level, took almost a month to rise to the recent swing high before crashing down wiping out all the gains in just 4 days... $QQQ 20250227 512.0 PUT$
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