QQQ (31 October) Invesco QQQ Trust Series INASDAQ:QQQpakoumalQQQ’s consistent alignment above the 50d MA since May confirms an established primary uptrend Each time QQQ has pulled back toward or slightly below the midline, it’s rebounded - a classic envelope rhythm The current setup favors rotation or sideways digestion rather than reversal, unless price breaks below $600 decisively QQQ is extended, so a brief pause or small pullback wouldn’t invalidate the uptrend QQQ is testing the upper +3% boundary - a region that often acts as a momentum area in a healthy uptrend Sustained trading above that upper band would indicate a very strong bull phase (think “trend expansion”) A drift sideways or small pullback to the midline (~$610-$615) would be perfectly normal 1. Strong Uptrend, Well-Contained in Channel The price has been trending cleanly above its midline (50d MA) since May The shaded envelope shows QQQ hugging the upper band, which typically signals trend strength, not exhaustion; unless, it flattens and price rolls over 2. $629-$637 Resistance Cluster This is a psychological round number zone & aligns with the measured handle breakout level from the 4H chart A few consecutive candles stalling just under the top band implies controlled profit-taking, not heavy selling 3. Structure Suggests “Bull Flag on the Daily” The shallow pullback around $589, $620 to $637 has flag-like proportions If QQQ holds above $620 into early next week & breaks $637 with volume, it would confirm a bullish continuation pattern $637 + ($637 – $589) ≈ $685-$690 medium-term 4. Momentum The trend’s slope has accelerated since early October; often, a late-stage trend characteristic, but there’s no clear topping structure RSI (4H chart) is near 66, meaning there’s still room before overbought extremes on the daily frame Bullish Continuation Break & close >$637 Strong QQQ/tech rally post-FOMC & Trump-Xi $660–$685 Sideways Hold $620–$637 range holds Consolidation before next leg Neutral to bullish bias Bearish Pullback Daily close