@Vol888 Vince, as far as I can see it, we're hitting confluence of resistances here on $QQQ. Namely, 38.2% Fib retrace from Covid low to ATH, 125W SMA (yellow), 100W EMA (green), 50D LRC 2 SD upper bound, and 100D LRC 2.5 SD upper bound. Wouldn't surprise me if we get a pullback here back to 50D SMA around $294ISH to form another higher-low and/or right-shoulder of InvHS before pushing higher again towards 200D SMA up at $344ISH.
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@kboomington @Vol888 So, here's something to ponder as we're potentially hurdling some of the overhead resistance. (Not out of the woods yet by any stretch of the imagination, but cautiously encouraging to see some, but not all of them, surmounted.) Anyhow, as far as I can tell reviewing the $NDX back into the 1980s, whenever there's been a DeMark sequential down count of at least 4 on the monthly timeframe (we've completed #6 with July's big bullish engulfing candle), then if the 30M SMA/EMA are reclaimed (which we appear to be in process of potentially doing), then it tends to be upwards and onwards from there. Food for thought.
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