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$QQQ $Destination $671 IMO 100D SMA

$Invesco QQQ Trust(QQQ.US)$Invesco Nasdaq 100 ETF(QQQM.US)QQQ confirmed its downside break from the consolidation pattern last week, and this week’s shooting star candle isn‘t exactly reassuring. While the index itself hasn’t fallen dramatically, the damage beneath the surface has been severe.

Three headwinds are hitting the market at the same time: an AI catalyst vacuum after earnings season, growing concerns over negative free cash flow as companies continue spending aggressively, and another surge in oil prices that reinforces the higher-for-longer interest rate narrative. Together, they‘ve made investors much less willing to pay for long-duration growth stories.

On the surface, the index still looks relatively stable. Underneath, however, market breadth has deteriorated sharply, with many growth stocks already deep in correction territory. It feels like one of those periods where the index masks just how painful the average portfolio has become.

@Captain's Treasure

$QQQ in a spot on the chart where next week it can offer some good short opportunities or can get a rally/bounce. Have to see it first. Preparing both ways

Source: Sunrise Trader

As the Iran conflict escalates, Brent crude oil has broken through the $100 per barrel mark for the first time, pushing US Treasury yields to their highest level this year. Risk aversion is rampant in the market.

Combined with a sharp drop in tech stocks, this has dragged down the Nasdaq.

The Singapore stock market continues to perform exceptionally well. Although it was pulled lower by last night's US market open, it showed resilience in the afternoon session, indicating that the Straits Times Index remains vibrant.

Fingers crossed that tonight's US market isn't a Black Friday.

Iran's Lark Island Was Targeted By US Missile Attack: Tasnim - $SPY $USO $QQQ

qqq back near highs going into the busiest earnings week of the year. tesla and google tonight, msft and meta next week. this is the bellwether so how it holds after these prints tells you a lot about the tape. staying long but with tight stops

$Invesco QQQ Trust(QQQ.US)$Invesco Nasdaq 100 ETF(QQQM.US)QQQ chose to break below its consolidation triangle last week, which is an uncomfortable technical development. The index is now sitting just above the previous gap support, making this a critical area. As long as that gap holds, bulls still have a chance to regain control. But if it fails, the next meaningful support could be around the 660 area.

This week‘s catalysts will be crucial. Google’s earnings could help restore confidence in the AI trade, while any progress toward a ceasefire would likely improve overall risk sentiment. Without either of those, investors may continue reducing exposure, especially after recent weakness in AI-related names.

The uptrend hasn‘t been completely broken, but this is no longer a market where good news can be taken for granted. The next few sessions could determine whether this remains a healthy pullback or develops into a deeper correction.

@Captain's Treasure

big tech earnings week is basically the whole market this week. TSLA and AMD tuesday, INTC wednesday. if you hold QQQ you are long all of it whether you like it or not. i trimmed a little into the run and kept powder for the reactions

SpaceX just did what i've been waiting to see: first ever CLOSE below the $135 IPO price, finishing at 131 after scrubbing a Starship test when engines failed to start. it's now down 34% from its high and dropped to ~124 after hours. the inclusion hype is fully gone and the lockup still looms. i traded around $Invesco QQQ Trust (QQQ.US)$ into the event, stayed out of the stock, and i'm still not touching it until it bases well below here.

Space X is not worthy of the current valuations, which would already be pricing in years of perfect growth. Dropping below IPO pricing now is simply fair imo. Disappointing this has been fast tracked into QQQ. The volatility since IPO is only helpful to traders.

SpaceX just broke below its $135 IPO price for the first time, fourth straight down day, now off more than 30% from its highs. the Nasdaq inclusion euphoria has fully drained and the lockup is coming. i said from day one that buying a forced-inclusion pop was buying the top, and here we are. i traded around $Invesco QQQ Trust (QQQ.US)$ into the event and stayed out. still watching, not catching this.

cool CPI did exactly what $Invesco QQQ Trust (QQQ.US)$ holders needed, 3.5% vs 3.8% expected, biggest monthly drop since 2020, and July hike odds collapsed from 42% to 17%. that's the rate pressure lifting off the whole index in one print. i hold QQQ long term and this is the kind of macro relief that lets the AI names run. still watching PPI today though, one print doesn't end the debate.

SpaceX still has the highest community chatter of any name but the price keeps drifting near its IPO levels while everything else rips on the CPI relief. that relative weakness on a huge risk-on day is the tell, the inclusion bid is gone and the October lockup overhang is real. i traded around $Invesco QQQ Trust (QQQ.US)$ into the event and stayed out. lots of talk, no bid, watching.

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$NVIDIA(NVDA.US)NVIDIA has finally pulled back to its moving averages after several strong sessions, making this an important level to watch. The rally has cooled, and now the key question is whether institutional buyers are willing to step in and defend the trend.

Given NVIDIA's weight in both the semiconductor sector and the major indexes, its reaction here could influence the broader market. A strong bounce would suggest that demand remains intact and could give QQQ another push higher. On the other hand, if support fails to hold, it may signal that recent momentum is fading and the market is entering a deeper consolidation.

This isn't just about NVIDIA anymore—it's a test of whether the AI leadership trade still has enough fuel to drive the next leg higher.

@Captain's Treasure

SpaceX at 137 now, second straight down day and closing in on its $135 IPO price. the Nasdaq inclusion bid is long gone and it's trading on fundamentals plus the October lockup overhang, in a risk-off tape. breaking the IPO price would be an ugly technical signal. i traded around $Invesco QQQ Trust (QQQ.US)$ into the inclusion and i'm out, watching whether 135 holds.

📢 𝐉𝐔𝐒𝐓 𝐈𝐍: U.S. President Trump says he will restore a blockade against Iran. - $QQQ $SPY $USO

$Invesco QQQ Trust(QQQ.US)$Invesco Nasdaq 100 ETF(QQQM.US)QQQ showed encouraging buying interest near its recent lows last week, suggesting that dip buyers are still active despite the recent volatility. That support helped stabilize sentiment, but it doesn’t change the bigger picture.

This week feels like an important test. If QQQ can reclaim higher levels and break above recent resistance, it would strengthen the case that the pullback was only a short-term correction. If it fails to do so, the market could be entering a longer consolidation phase where gains become harder to achieve and leadership continues to narrow.

After such a strong rally earlier this year, a period of sideways trading wouldn‘t be surprising. The next breakout—or rejection—will likely set the tone for the weeks ahead.

@Captain's Treasure