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XLK & QQQ Price Targets

I often refer to QQQ as XLK with an Amazon kicker as QQQ is very top-heavy in the same handful of leading technology companies as XLK. A break below the 62.50 level is likely to bring XLK (Technology Sector ETF) down to the 61.20 level. Likewise, a break below 152 is likely to bring QQQ (Nasdaq 100 tracking ETF) down to the 149.26 level, about 2.5% below current levels as shown on these 60-minute charts.

While the odds favor a reaction upon the initial tag of those near-term target levels if they are hit soon, my swing targets for QQQ remain 151.20 & 149.21 (actual support levels/unadjusted targets). Previous & updated 60-minute charts:

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Dec 4, 2017 3:15pm|Categories: Equity Market Analysis|Tags: , , |1 Comment

One Comment

  1. rsotc December 4, 2017 3:28 pm at 3:28 pm

    Following a very brief move back into the price channel, IWM has moved back down below the channel & is currently testing the 153 support level:

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