Eye On QQQ - Market Analysis for Jul 25th, 2024

QQQ was down another 1.5% at a corrective low of 455.63 earlier, amounting to a 9.8% decline from the ATH at 505.21 on 7/11/24, which we see on my attached 4-hour chart approached a confrontation with the QQQ major up trendline off of the October 2023 low that cuts across the price axis today in the vicinity of 453.30/50, and which will represent a significant test of support that must contain the selling pressure on a closing basis to avert downside continuation to 440-442.50 thereafter. 

To regain upside traction, QQQ needs to climb and sustain above 459.60... Last is 460.67