We've been writing about this trend-line on the QQQQ for a while now in the newsletter. Note today that the QQQQ is in a peculiar spot: in a little box under the trend-line but bouncing for the second day in a row on the 200 SMA.
On the upside it still has room to 36 until next major resistance and on the down-side, selling might pick-up on any hard break of the 200 SMA or break of the 2 day low around 33.85. Our thoughts are that sentiment is still very bullish and any significant selling in tech (for example a move to 32) would be a good buying opportunity.
Munger: The Psychology of Human Misjudgement
5 hours ago