Watch These QQQ Price Levels as Nasdaq 100 ETF Slides After Yesterday’s Rally
Key Takeaways
- The Invesco QQQ Trust tumbled Thursday after surging 12% yesterday following President Trump’s announcement of a 90-day pause on many tariffs.
- The fund has registered its highest weekly volume since May 2022, possibly indicating capitulation selling before larger market participants returned from the sidelines looking for buying opportunities after the steep sell-off.
- Investors should watch crucial support levels on QQQ’s chart around $448 and $402, while also monitoring key resistance levels near $503 and $540.
- Bars pattern analysis projects a longer-term upside target in the fund of around $710.
The Invesco QQQ Trust (QQQ) tumbled Thursday after surging 12% yesterday following President Trump’s announcement of a 90-day…
