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QQQ breached the 40-week moving average
@SmartReversals:
$Invesco QQQ(QQQ)$ breached the 40-week moving average, a key line historically separating bull and bear markets. Is this a temporary breach, similar to August 2024, or a market regime change? A bounce is likely as oscillators approach oversold conditions. However, if the bounce extends beyond a week, substantial damage could occur, and the 40 MA would become resistance. If there is a delayed bounce (because ther will be one) the pink line would become a strong roof $SPDR S&P 500 ETF Trust(SPY)$ $NVIDIA(NVDA)$ $Apple(AAPL)$ $Amazon.com(AMZN)$ Image
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