QQQ remains solidly below the primary uptrend line as it continues to flirt with the top of yesterday’s gap, keeping Monday’s breakdown/sell signal intact for now.
QQQ daily 2 Feb 24th
AAPL (Apple Inc.) also remains below the key 125.75 first target & former support, now resistance level with the odds still favoring a continued drop down to my next target of 106.50ish until & unless AAPL can solidly regain the 125.75 level. Of course, even a break back above 126 would still have AAPL below the primary uptrend line with a backtest of that trendline from below, certainly a potential scenario if the market & AAPL can build on today’s gains over the next week or so.
AAPL daily Feb 24th
In addition to AAPL, the other top-component of both the S&P 500 & Nasdaq 100 that I’ve been following closely, TSLA (Tesla Inc.) is still trading well below the 802 former support, now resistance level with a typical reaction off yesterday’s initial tag of the first target zone of 661.78 & the nearby primary uptrend line. A solid recovery back above 802 level would be near-term bullish while a solid break below the primary (blue) uptrend line would open the door for a move down to the 465ish level.
TSLA daily Feb 24th