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The Nasdaq-100 ETF, $QQQ, is experiencing significant technical movements. It is currently trying to hold the 21-day moving average around the lower 465s, with a notable support level at 461. A close below $465.62 could trigger a daily TD Prop Exhaustion Down target of $445.51, with important support at $445.61. The ETF closed on the 100-day moving average, with the next support level near 449, identified as the March pivot. There is also a gap below worth noting, and a daily gap fill is expected at 465.11.
$QQQ Closed on the 100 day. March pivot near 449 is next level below. https://t.co/vW4TjmYfQ1
Trading Room Summary - August 28th 🤔 "it looks like QQQ 465.11 daily gap fill will hit with overshoot to 463.63 hourly gap fill before I can see if market gets defended and marked back up into September OpEx..." Right idea, but not quite low enough target. Reminder: trading…
A $QQQ close < $465.62 will activate a daily TD Prop Exhaustion Down target of $445.51; daily TDST Level Down (important support) = $445.61. Thru the yrs TD Prop been 1 of the best DeMark indicators. No time frame attached besides the "daily" frame of reference.