What a rally , more then 50% from the lows. There isn't yet any sign that we are going to turn around. The Short term trend is up But the long term trend is still down , the MA 50 weekly is still declining. The next potential resistance for the QQQQ is 40-40.5 that is the 61.8% correction from the lows, this level will very hard to break.
For the SPY the next potential resistance 98- 101.
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