Next Higher Target Zone For QQQ

QQQ-- Considering the 20% upmove in META (so far), and ahead of tonight's earnings reports from AMZN and GOOG (both of which are up 4% and 5%, respectively), its no wonder why QQQ has traded as high at 307.28, which we see on my attached chart is well-above my first optimal target zone of 306.00/20 discussed yesterday as the initial upside objective where a larger (and apparently still-developing) counter-trend recovery rally off of the October low (254.26) might exhibit signs of exhaustion. 

My next higher target zone is 313.60 up to 317.20 for signs of upside exhaustion, unless QQQ rolls over into a nosedive that breaks 305.50, and thereafter, presses beneath 304.40 to trigger reversal signals that indicate the current upleg from Tuesday's low at 284.78 is complete... Last is 307.27

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!