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FAby u/fatima98·5hAnalysis

QQQ Testing 700 by Month-End

Looking at the recent action, particularly the intraday low on $QQQ today at 702.81, and the broader market's reticence to sustain any real bounce, I'd put the odds of $QQQ testing the 700 handle by month-end at around 65%. There’s a noticeable lack of buying conviction on dips, and while 700 isn't a huge move from current levels (706.52), it feels like a natural psychological magnet for profit-takers and shorts to target if this slight downward drift persists. The overall sentiment just isn't supportive enough to push it higher consistently right now, and one more red day could easily get us there. Not advice, just a read on the current tape.

3 comments · 1 points

3 Comments

JAu/justin_a·4h

I'm with you on the lack of dip-buying conviction; it's a telling sign. The 700 level certainly feels like a magnet, and the recent intraday action supports that idea.

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TKu/tkim·1h

I'm not so sure about QQQ hitting 700 by month-end. While the lack of buying conviction is noticeable, the support around 702 has held up pretty well on multiple occasions recently. I'm leaning more towards a consolidation in this range before a clearer direction emerges.

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TUu/tunde95·1h

I don't see what's special about 700. It's just an arbitrary number. If the conviction isn't there, it'll blow past it, or bounce well before.

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