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March 20 NASDAQ Update – QQQ is Bearish Below Resistance

The NASDAQ also had a bullish rebound yesterday, but is still trading below the yellow trendline. The NASDAQ has been pretty bearish lately with 9 red daily candles out of the past 12 days. However, the price continues to trade below the yellow trendline so today’s FOMC announcement will be important to determine whether QQQ can finally start a downtrend away from the yellow trendline.

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