$QQQ TOP 20
Added 2024-12-29 19:36:21 +0000 UTCIt was a bumpy week but the price action is not looking concerning on the chart (in the immediate short term) price retested the rising wedge bottom line on Friday and bounced.
Price hit $517 and finished at $522 and the 50 Day MA was not needed as a test on the 1 Fib as it did the previous Weds, so this is a higher low so far.
RSI is also only at 54 too, so there is not a concern right now that this is overextended in this current set up, so in simple words, the Melt Up scenario is still in play.
I have said a number of times now, $NVDA is very much the key to this market, it will need to break above $141 and hold and this will make the melt up scenario play out with ease.
