Invesco QQQ Trust Series 1 (QQQ)

[frenchee]

I'm looking for a tag of 36.86-36.52 next week. We are almost oversold on the daily 5-day RSI and NAMO is showing a positive divergence with price. QQQQ is testing its 200-day SMA--36.52. Its daily chart shows it trading near its 2005 low. After failing a couple of challanges of its 50-day SMA currently now at 37.78, I exited my long today at 37.65 since not being able to hold above this threshold is a bad sign if your position is long.

Once again I'm in waiting mode. Waiting for either the 50-day SMA or the 200-day SMA to be taken out before I take a position.