On Friday, Nasdaq closed 0.51% down and once again got rejected by the trend line likely because of the 10 Y Treasury yield closing above 1.6% after almost 5 months closing at 1.613%. QQQ NASDAQ’s ETF is sitting right above support of 360
Overall Performance for the week: Nasdaq up by 0.09% with 2 red days and 3 green days
Prediction for next week:
If bears are able to to Nasdaq QQQ below 360 and close below it bears could be in control and push the price of QQQ to around support at $351/share.
If bulls are able to maintain support at $360/share and possibly break out of the trend line, then we are likely to test $370/share and break new highs again in a few weeks time
Rising 10 Y notes are definitely something towatch next week
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