The stock market crash was a scary event and the future still holds plenty of uncertainty.
But today’s chart provides some hope.
The Nasdaq 100 ETF (QQQ) represents large-cap tech stocks, an area that has been a leader of the bull market run off the 2009 lows.
As you can see, the QQQ’s have been in a 10-year rising channel marked by each (1). And there hasn’t been a close above or below the channel.
The stock crash last month saw the QQQ’s test the 10-year rising support as well as the 161.8 Fibonacci extension level at (2). And that support held!
Leadership in the large-cap tech space continues to send a bullish message to longer-term investors. Stay tuned!