QQQ most likely to test 332 and then decide the direction

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Invesco QQQ Trust, Series 1 (NASDAQ:QQQ)

NASDAQ:QQQ Invesco QQQ Trust, Series 1

supportandresistance supplyanddemand trendline qqq qqqlong qqqforecast nq1! nq_f nasdaq ndx ndx100

QQQ Weekly chart looks still bit weak. Friday's action saved it from meltdown. Thursday's bounce from long term trend line (more evident on NQ Futures) was big saver. Going forward, QQQ needs to close above 332 to push bears to sideline. If close below 322.80, would be big red flag as it may start weeks of downside action. Must hold trend line support in any case. Chart shows two possible paths it can take from here.