Jan. 16th 2025
Consolidation and choppiness continues
The NASDAQ-100 (QQQ) continues to trade sideways. The index seems ambivalent about its next major price movement.
Volatility is compressing toward two converging trendlines. Higher lows suggest persistent dip buying, with price approaching considerable resistance at the prior all-time high of $635.77. Resolution of this pattern could set the stage for the next major price move, with a breakout likely accompanied by a surge in volume.
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