QQQ... the squeeze

Tech squeezed last 3 trading days of March.

We finished up pretty overbought on the hourly on some big names (Apple,Msft,meta,nflx).

XLK is at resistance



I think we'll pullback early next week .

We've faked breakout before , and if we fallback below 315, this was just another fakeout



Our pullback levels would be

317 (Purple line) which was previous resistance.

Next level would be 315.60
Major fibonacci support.

If we breakbelow that
313 gap close...

Be prepared to close your shorts if 313 doesn't break.


Overhead is a gap at 322 that needs to be close.

Daily Rsi at resistance
CCI is overbought
MFI is almost there


The Wild car here is XLC
That sector heavy weights are
1.google
2. Meta
3.nflx


XLC broke out from under its bear channel
And has a lil more room to the upside before resistance




XLY (Tsla/AMZN)
Sector closed right at resistance here last 3 touches led to rejections and corrections.

Bearish if it falls back below 148


SMH (Nvda,Amd)

I expect a major correction coming for this sector..
Similar position as qqq.
Resistance at 266

NVDA and amd underperformed last week so the hourly isn't as overbought as Msft, Apple, and Meta...

Looking ahead, since Msft closed its gap at 286 and apple at 163, I think they will be the main drag on qqq