FWIW- Here’s a reply I made shortly before 2:30 pm EST today in response to this question. It is mainly geared towards active trading (very short-term direction of the stock market) but also has the potential to help firm up the case for a rally off the aforementioned support levels in QQQ & the market-leading stocks highlighted in today’s earlier video.
Q: Randy, we have broken support since this video. Any lower short term price targets?
A: QQQ is slightly below the Aug 18th reaction low support, AAPL is slightly below the 170.50ish support but neither by a large margin & there is still just over 1.5 hrs in the trading session so my guess is a rally into the close today to fade the drop, largely driven by short-covering in front of tmrw’s GDP & Jobless Claims. Of course, that’s the active trader in me trying to game the minor zigs & zags but if that proves to be the case, AAPL & QQQ would close back on or around those support level. Plus, several other big tech stocks such as GOOGL & NVDA are still holding above support.
Regardless of today’s close, things can easily change after those two big economic reports tmrw am.