It’s time for “Macro Monday!” Below is a big picture view of the NDX 100 ETF QQQQ.
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Q’s almost reached the 38% fib level in 2007, before falling hard into 2008. Now the Q’s are dealing with the 38% Fib level again at (2).
Game Plan…Attempting to score on defense by owning PSQ. At this time the 2007 HIGH is SUPPORT !!! Should the Q’s break below the 2007 highs, downside momentum should be resepected!