The Q's have pushed all the way up to $368, which if you have seen my analysis before you probably know that I have been watching that level for a while. $368 happens to be the 1.618 retracement from the 2008 lows to the pre-covid high:
In addition to that retracement, this area also happens to be the 1.618 from the February lows to the recent swing high. I have also drawn in a trendline on this chart that could potentially act as resistance. I'm not saying the market is neccesarily bearish because of this, but I do think that this area is important and could definately have an impact on the markets, especially since several mega cap companies release earnings soon. Good Luck!
In addition to that retracement, this area also happens to be the 1.618 from the February lows to the recent swing high. I have also drawn in a trendline on this chart that could potentially act as resistance. I'm not saying the market is neccesarily bearish because of this, but I do think that this area is important and could definately have an impact on the markets, especially since several mega cap companies release earnings soon. Good Luck!
