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March 19 NASDAQ Update – QQQ Near Local Lows Headed into FOMC

$QQQ is forming a bullish rebound off the local lows around $433 as we approach the FOMC meeting tomorrow. The NASDAQ has been trading around this yellow trendline since mid December, and tomorrow we’ll see if the FOMC meeting causes QQQ to finally start trending down. Otherwise we are likely to continue trading around the yellow trendline until QQQ finds a direction.

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