Verified Investing on $QQQ (Oct 26, 2026)

uh into the NASDAQ we go and we see here on Friday guys put in one daily candle close inside this massive inclining parallel channel and to uh notify any other newer members and to remind the other viewers as well man this parallel channel dates all the way back to 2016.

We were cleanly contained within that parallel all up until this date here on the week of May of 2026 in which case price started changing started consolidating on top just like that support level on the S&P 500.

Look how many times we've hit and breached this support. It's getting harder and harder for the Nasdaq to cons to contain itself above that parallel channel. Flip to the daily that we did put in one nice candle above today.

Now, we were on the verge of breaking down on Friday. The good news for the bulls on the NASDAQ, the chart has saved itself in the very much near term. This line is still in jeopardy of breaking in the future.

25,989. In essence, anything under 26,000 points, you got to be looking at the NASDAQ for near-term potential breakdown on that chart. upward resistance is at this previous declining trend line that designated a breakout that occurred with a pivot up here at the beginning of this month.

This trend line for resistance 26,558. We get price above that, that's a very very good recovery and could be near-term bullish on the chart of the NASDAQ. But you see where I'm at, this is the line to get above to be bullish and really anything under here is somewhat neutral to bearish on the NASDAQ.

So, we'll see if NASDAQ can fight its way to get higher on that chart.