QQQ Forming Nice channelInvesco QQQ Trust, Series 1BATS:QQQstocktwistsKey Observations: Uptrend Channel: QQQ has been trading within a rising channel. The price respects both the support (lower red trendline) and resistance (upper red trendline) consistently. Recent Price Action: There was a sharp drop that briefly broke below the lower trendline support but quickly rebounded back inside the channel, indicating a false breakdown or buying strength at support. A horizontal red line marks a previous resistance level, now potentially acting as a support. Current Price: The price is around $567.22, near the middle of the channel, but just below the recent local high/resistance. Implication: As long as the price stays within the channel, the uptrend remains intact. A confirmed breakdown below the channel support would be bearish, while a breakout above the channel resistance would be bullish.