QQQ (Nasdaq etf) - Potential Bearish Momentum - Weekly

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QQQ (nasdaq etf) has been uptrending for over a year (2023 to 2024).

However, signs of a potential pullback in the long-term charts are showing with the price and rsi oscillator.


In the long-term, a potential pullback may occur in the price, and the price could fall down to $426, $419, $400, $394 support levels.


Long-term resistance levels are: $460, $470, $480, $500.


QQQ etf volatility and trend can be affected by FOMC Interest Rates, Corporate Earnings, Consumer Sentiment, and Global Event Catalysts.

A major bearish catalyst or a series of bearish events would be needed to reverse the price back down.


Note: Without bearish events, the price of QQQ could continue rallying to new all-time highs.

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