After several days of sideways price action, QQQ is starting to form a move to the upside with a break above $486.58. I think QQQ is approaching an area of strong resistance here, and I would monitor for some sell pressure pushing the price back down. However, QQQ still has room to climb up to the next key target around $503.35. I think there could be some resistance between $486.58 and $503.35 to monitor for a potential peak forming here. This year there has been a delays for pullbacks. The bearish trend in March was delayed until April. I think the bearish trend in September could also be delayed until October.

Where is QQQ Likely to Peak?

I spoke with the TrendSpider team today, we talked about what QQQ could likely to do over the next few days. The market has been neutral, trading sideways with no clear direction. There is a big gap above between $488 and $492 that could be tested as QQQ starts to push up higher. We think the most likely scenario is a brief push up to $488 – $492 before a significant pullback.

Follow me on social media: https://linktr.ee/realchartchamp