Verified Investing on $QQQ (Oct 29, 2026)

Let's start with Nasdaq first, as we mentioned yesterday as well. We were heading straight towards a point of conflict, which was the downtrend line dating back to June of this year.

That downtrend line was in fact the starting point for the September 21 push, that good price differential we saw and which continued to rise. We were targeting a potential of reaching 28,000 points on the chart.

You can see that there was a clear potential upward movement with slanted trend lines. If you reduce the size of the graph and convert it to the monthly time frame . You can see that the peak of this pivot from November 21st, which connects to the peak of the pivot in June, was targeting 28,000 points.

But guys, we're nowhere near that now. We saw a strong rejection of the last breakout attempt and then came back here to close at 26,184 points. Now I have a long-term parallel blue line at the bottom where we have already found support, and now we are returning to it again .

So this will be a key level. Where will we open tomorrow? Will we open above or below 26,000 points? This will most likely determine the direction of potential support and/or resistance.

If we open below this level and get any bounce, there will be slight resistance to rising and breaking that parallel channel. If we open above it and then start trading at a lower level, that will be a slight support.

Therefore, 26,000 points is the number to really pay attention to tomorrow in the Nasdaq index. Any close above that would be positive in the near term, given the carnage we are seeing in some of these stocks that report earnings after the closing bell.