$QQQ Hits Resistance as Semis Weigh on Nasdaq
$Invesco QQQ(QQQ)$ is now down roughly 4% since hitting our Smart Money Sell Zone.
I've been short-term bearish on semiconductors for the past couple of weeks, and that weakness is now pulling the Nasdaq into a major resistance area.
Right now, $QQQ is caught between bearish Smart Money resistance above and a volume-profile support block below.
📌 The key level is $700.
If $700 holds, we likely get nothing more than a controlled pullback. That's normal and healthy within a longer-term bull cycle.
⚠️ But if $700 breaks, there's a price vacuum below, which could trigger a quick 5%–7% flush, with semiconductors likely driving most of the downside.
For now, support is holding, so there's no reason to panic.
🎯 My trading plan doesn't change. I'll continue focusing on high-quality Smart Money setups rather than chasing short-term moves.
And if tech does see a deeper pullback, that could simply create better entry opportunities in the strongest names.
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