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March 27 NASDAQ Update – Resistance at the Yellow Trendline

The NASDAQ has deviated away from the S&P 500, and $QQQ has been showing relatively more weakness compared to $SPY. Yesterday QQQ had a rejection off the yellow trendline, and today there is a second rejection forming at the yellow trendline again. I think QQQ is struggling to climb back above the yellow trendline, but I would monitor $447.50 for more breaks or rejections.

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