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QQQ Likely to Test the Yellow Trendline

QQQ has essentially moved sideways since Sept. 6, and is likely to start trending up to the yellow trendline. The yellow line is sloped downward and decreases over time so the longer it takes the lower the price target will be. For now $466.30 is a realistic target for QQQ to reach over the next few days and weeks. A rejection at this yellow trendline will signal that there is likely to be more downside, whereas a break above this yellow trendline will help the market rebound and start trending back up again.

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