QQQ

We literally said that we are targeting the QQQ index to reach its all-time high by Black Friday. We are now only 1% away from this prediction. We bought when the price dropped to 700 and sent a buy alert.

When I saw 700, I said: Buy, send the alert, and go! On Friday we talked about testing the resilience of the QQQ index and its ability to hold at 715, and it succeeded.

Uh next up into the NASDAQ. Now, look at that. If this candle was at the top of the chart, that would be a topping tail. That does illustrate too just how robustly bullish everybody was until that final last couple 10-minute candles on the chart.

Look at that bull flag. Then all of a sudden, whoop, now we got a potential topping tail. Now, again, let me just clarify. This does not qualify as a topping tail. There's price action all around it, just right next door.

So, that would need to be at a high point on the chart. But, geez, that selling pressure with that big wick in the final 10 minutes, we'll have to see if that carries into tomorrow.

while the QQQ advanced 0.12% to $73,744.

I brought up the daily chart of the cues uh which is obviously the tracking ETF for the NASDAQ 100. People think this is actually the NASDAQ. This is actually only the top 100 companies in the NASDAQ but they're the largest and they make up the like 95% of the NASDAQ uh market cap.

As for QQQ, how I see this, this is a " bread bot". I shouldn't say bread pot, this is my recipe for bread. The bread recipe gives you what you need to know. We are above level 5, above 13, and above 50 for Qs.

The market is currently bullish . But we bounced off a double crossover here, breaking through the Bollinger Band. Typically, within a few weeks, we will reach level 13 again. We are well above 13, well above 5, in a market that is in overbought territory , and that makes me nervous.