Thesis
QQQ remains in a late-stage bullish structure. Price is testing the upper boundary of a bullish wedge, with Wave 5 still the primary scenario while key supports hold.
Context
- Weekly timeframe
- Long-term bull trend intact
- Market approaching the final phase of the broader cycle
What I see
- Price tested the wedge breakout level twice this week
- Weekly close held right on the breakout line near $623
- 50-day MA has now been tested and appears to be flipping to support
- Structure remains compressive, not distributive
What matters now
- Breakout level needs to be clearly flipped to support to confirm continuation
- Market is not pricing near-term event risk (tariff ruling next week) as bearish
- As long as price holds above the $600 area, upside structure remains intact
Buy / Accumulation zone
- No aggressive adds at current levels
- Long-term accumulation remains near the $440 area (200WMA confluence)
Targets
- Primary Wave 5 reference: $720–$725 area (2.618 Fib)
Risk / Invalidation
- Loss of $600 and failure to hold the wedge breakout would shift the structure to consolidation
QQQ remains in a late-stage bullish structure. Price is testing the upper boundary of a bullish wedge, with Wave 5 still the primary scenario while key supports hold.
Context
- Weekly timeframe
- Long-term bull trend intact
- Market approaching the final phase of the broader cycle
What I see
- Price tested the wedge breakout level twice this week
- Weekly close held right on the breakout line near $623
- 50-day MA has now been tested and appears to be flipping to support
- Structure remains compressive, not distributive
What matters now
- Breakout level needs to be clearly flipped to support to confirm continuation
- Market is not pricing near-term event risk (tariff ruling next week) as bearish
- As long as price holds above the $600 area, upside structure remains intact
Buy / Accumulation zone
- No aggressive adds at current levels
- Long-term accumulation remains near the $440 area (200WMA confluence)
Targets
- Primary Wave 5 reference: $720–$725 area (2.618 Fib)
Risk / Invalidation
- Loss of $600 and failure to hold the wedge breakout would shift the structure to consolidation
Long term investor. Open portfolio and full thesis on eToro: etoro.com/people/maratteo
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Long term investor. Open portfolio and full thesis on eToro: etoro.com/people/maratteo
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.