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NASDAQ and S&P Trade Around Resistance

Nvidia’s bullish earnings announcement gives hope that the S&P and NASDAQ can continue to rally. QQQ is currently outperforming the S&P, and QQQ has broken through the red resistance line. In comparison, SPY is trading below resistance still and there may be a bullish breakout for SPY later. Both SPY and QQQ are red today, there is some sell pressure around these resistance levels. The next few days of price action should be interesting to see if there is a bullish breakout forming.

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