QQQ Closes Back Within Weekly Trend Channel Support at 160

As you can see in the QQQ weekly chart above, QQQ has closed back into the 160 level. This is a bullish sign and I expect the index to move higher next week. A weekly close below 160 would signal a lot of downside, like a retest of the February low to 150 at least. I suggest staying long, but using put options to hedge downside risk.

As long as there is no bad news regarding the tariffs/trade wars in the next few weeks, QQQ will likely gap fill to 170.

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