I only have time for a quick pre-closing update & have to cut out early today so in a nutshell, QQQ is currently poised to close on or around a backtest of the uptrend line off the Oct 5th low with a bearish engulfing candlestick on the weekly chart, keeping the recent sell signals intact & making the case to go home short (although nothing aggressive) into the weekend. Next sell signal to come on a solid break and/or close below the 50-day EMA (yellow line) on the daily chart below.
QQQ Backtesting Trendline, Bearish Engulfing Candle 12-20-24
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