$QQQ TOP 20
Added 2025-03-06 21:17:17 +0000 UTCThe 50 WMA and the 0.618 Fib are both at the same level right now at $483.
This is therefore an important confluence level that the bulls and bears will both be watching closely.....as the $QQQ is now below its 200 Day MA and has not retested this level from below yet.
The key for me now is watching how $NVDA behaves, it needs a relief bounce and I believe the $QQQ and the market recovers, if $NVDA accelerates its selling then the market is unlikely able to hold its 200 Day MA and the $QQQ will struggle to hold the 50 WMA at $483.
The $QQQ rejecting from below if is lost is the equivalent of the $SPY losing and rejecting below its 200 Day MA.
