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QQQ ETF Bullish Parallel Uptrend About to Break Lower, Wait and See at the Moment

QQQ ETF Bullish Parallel Uptrend About to Break The Invesco QQQ Trust (QQQ) has been trading in a parallel uptrend since the beginning of the year. The price has been making higher highs and higher lows, creating a series of parallel channels. This pattern is often seen as a bullish sign, as it suggests that the trend is in place and is likely to continue.


However, the QQQ is starting to show signs of weakness. The price has been unable to break through the upper trend line of the parallel channel, and it has started to make lower highs. This suggests that the bulls are starting to lose momentum.


I am waiting for the QQQ to break through the lower trend line of the parallel channel before making any trading decisions. If the price breaks through the lower trend line, it would be a sign that the uptrend is losing momentum and a bearish reversal could be in the works. However, if the price bounces off the lower trend line, it would be a sign that the bulls are still in control and the uptrend is intact.

I will continue to monitor the QQQ and will update my trading plan accordingly. In the meantime, I recommend that traders wait and see what happens before making any trades.


Here are some additional things to keep in mind:

  • The QQQ is starting to show signs of weakness.

  • The price has been unable to break through the upper trend line of the parallel channel.

  • I am waiting for the QQQ to break through the lower trend line of the parallel channel before making any trading decisions.

  • If the price breaks through the lower trend line, it would be a sign that the uptrend is losing momentum and a bearish reversal could be in the works.

  • However, if the price bounces off the lower trend line, it would be a sign that the bulls are still in control and the uptrend is intact.


QQQ Parallel Uptrend Chart
QQQ Parallel Uptrend Chart

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