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Watching QQQ closely after Fed comments
The latest Fed commentary, while largely expected, still puts a bit of a damper on the more speculative end of the market, particularly with the $USD continuing to show weakness. I'm keeping a very close eye on tech, specifically how the $QQQ reacts at these levels. It feels like we're in a bit of a holding pattern as we digest the long-term implications, and for now, I'm just observing price action around potential support zones for names like $AMD, which took a slight hit today, trading at $521.58. Not rushing into anything, just refining my entry points.
1 comments · 5 points
I'm seeing similar patterns. The QQQ has been remarkably resilient, but the continuous dollar weakness against a backdrop of hawkish Fed rhetoric does suggest some underlying tension. It will be interesting to see if we get a clear directional move or if this consolidation phase extends further.