Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

The QQQ Is Bouncing Off VERY Significant Price Support; MarketVision 2023 is TOMORROW!

by January 6, 2023
January 6, 2023
The QQQ Is Bouncing Off VERY Significant Price Support;  MarketVision 2023 is TOMORROW!

The past 3 months have been torture for the QQQ, the ETF that tracks the NASDAQ 100. The large cap stocks that dominate the QQQ performance have been breaking down one after another and that has weighed much more heavily on the NASDAQ 100 than it has on the S&P 500 as the latter is much more diversified over 500 large, multinational companies. The breakdowns of Apple (AAPL), Amazon.com (AMZN), and Tesla (TSLA) have really taken a toll, while weakness in other key stocks like Alphabet (GOOGL) have added to the weakness in the QQQ.

The current H&S pattern in the QQQ is a bearish continuation pattern, but in the short-term, today’s bounce off major neckline support could help to propel the QQQ higher and into a possible right shoulder top over the next week or two. Check this out:

The H&S pattern is not confirmed until the neckline is broken. So it’s quite possible that we simply rally off today’s neckline support test. The alternative, a breakdown below the neckline – especially if accompanied by heavy volume – would be quite bearish and certainly increase the odds of much further weakness ahead.

Tomorrow morning, Saturday, January 7th, we’ll be hosting our 4th annual MarketVision event. This year’s version will feature me, along with David Keller, Julius de Kempenaer, and Grayson Roze from StockCharts.com. We’ll be providing our 2023 outlooks and forecasts. This is a FREE virtual event that will begin at 9am ET. While there is no credit card required, you will need to CLICK HERE to register with your name and email address. I look forward to seeing everyone there!

Tom

0
FacebookTwitterGoogle +Pinterest
previous post
McCarthy ally says speaker fight ‘very personal’ for Gaetz, but that his actions ‘damaging’ America
next post
‘GET IT TOGETHER’: The wildest moments from the House floor during days-long speaker battle

You may also like

Stock Market Waiting Game: What You Should Be...

March 1, 2023

Countertrend Rally in the Works for SPX? What...

October 30, 2023

High Risk of Market Downside in December?

December 7, 2023

Sector Spotlight: Industrials & Tech Headed to Uncharted...

August 1, 2023

California is Going to Drop a Liquidity Bomb...

July 21, 2023

How To Profit From Bullish Gap-Down Reversals

March 16, 2024

When News Moves So Fast, Stocks Can Stand...

October 16, 2023

When Will the Stock Market’s Bullish Momentum Snap?...

July 10, 2024

Questions That You MUST Ask

August 31, 2022

At the Edge of Chaos: Don’t Fight the...

August 28, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved