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Stock Market Selloff from Iran’s Attack on Israel

Written By: ChartChamp

October 1, 2024

QQQ Playing Out Perfectly

The QQQ rejection within the white zone is playing out perfectly so far. Bears have been in control pushing the price down lower. There is a strong selloff today and QQQ could continue to experience more downside to around $470 or $450 price levels. For now I would monitor local support around $478.37 to see if the price drops below support.

The stock market is selling off from the Iran-Israel news

IWM Struggling to Rally

IWM has experienced numerous red days with little upside in either direction. Yesterday IWM had a green day, but still struggled to climb up. I think IWM is struggling to move here, which usually leads to a selloff from traders and investors that get impatient. I would be careful for a move back down to the white zone.

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