Verified Investing on $QQQ (Nov 5, 2026)
QQQ's 6% sell-off broke 677 support down to 650 and is now rebounding; whether it reclaims the 661 pivot or is rejected and falls further is open. If it keeps declining, 636-637 is the next level, and below those levels buyers are expected to step in.
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we're going to look first at the Nasdaq because, frankly, it's having a crazy day. the Nasdaq is down 6%. This is crazy. This is the Nasdaq index, or as we traders refer to it, "the QUOS".
We are witnessing one of the worst sell-offs we have seen since the days of liberation.
Now, look at these support levels. The price closed here yesterday at around 685, in that area. However, look at the wide-ranging red band candle here. We broke the 677 support level.
We thought we would fill the gap here at this red bar candle and we are still heading downwards. Now, the price continued to fall down to 650.
Now, we are witnessing a rebound . Will we be able to recover above this low pivot level at 661, or will we be rejected and see further declines?
If we continue to decline, I am looking at this pivot level at 636-637. If we continue to fall below these levels, then I expect buyers to step in for the Nasdaq index.
What this channel has said about $QQQ
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