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ETF Landing Zone 17 Oct QQQ at a Decision Point

QQQrecently bounced off a support level of 169.14, breached 3 resistance levels, and is now trying to hold the third resistance level as support.  See 4Hr Chart If buyers can hold this level, 177.15, look for price to test the 179.68 and 182.22 above that.   If sellers push the price lower,  likely support levels are 173.97, 171.77, and 169.14.   I’m going to call 169.14 as my line in the sand for the current bullish move. 

A pullback would not be unexpected at this juncture, however a loss of the 169.14 level would indicate a significant lack of buyers and unusually strong selling momentum.  The momentum indicators on the daily chart suggest we are at a decision point for continued price advance.  See Daily Chart

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