Tech ETF Due A Bounce At Triple Support

Published 04/09/2018, 08:37 AM
Updated 07/09/2023, 06:31 AM
QQQ
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QQQ Daily Chart

The decline of late in Tech ETF PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) has it testing triple support at (1).

A bounce is due here and QQQ could bounce at least 5%+.

Bulls want to be careful that if a bounce takes place that it could be forming an important topping pattern.

Other bounces are due as well below-

S&P 500 Index Trade Price

These broad indices are testing triple support similar to the QQQ at each (1), where a bounce off support is due, as each remains inside of rising channels.

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