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QQQ & SPY Near-term Outlook & Price Targets

A break below Friday's low of 108.12 would likely bring QQQ down to any or all of the blue horizontal lines below & quite possibly beyond. 60-minute chart:

QQQ 60-minute April 25th

QQQ 60-minute April 25th

SPY still appears somewhat more healthy from a technical perspective than QQQ although both appear headed lower in the coming days to weeks. A break below the 207 level + price channel will likely spark a move to any of all of the potential targets/key support levels down to the 197 area. 120-minute chart:

SPY 120-minute April 25th

SPY 120-minute April 25th

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Apr 25, 2016 10:08am|Categories: Equity Market Analysis|Tags: , , , |2 Comments

2 Comments

  1. snipertrader April 25, 2016 10:24 am at 10:24 am

    @rsotc – thanks for the updates on this. There is definitely money rotation out of the FANG’s and mega tech underway and it’s finding it’s way into the more broader SPY and it’s recently leading sectors. There is some very compelling topping action in some of the individuals underlying QQQ I think. BTW, Anyone interested in sector’s underlying the relative SPY strength might wish to check out the post I made a bit ago presenting the SPY/Sectors birds eye view update.

    1+

  2. dan123 April 25, 2016 11:18 am at 11:18 am

    Thanks for the update

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