$QQQ Hits Resistance as Semis Weigh on Nasdaq

PeterDiCarlo
08-25

$Invesco QQQ(QQQ)$ is now down roughly 4% since hitting our Smart Money Sell Zone.

I've been short-term bearish on semiconductors for the past couple of weeks, and that weakness is now pulling the Nasdaq into a major resistance area.

Right now, $QQQ is caught between bearish Smart Money resistance above and a volume-profile support block below.

📌 The key level is $700.

If $700 holds, we likely get nothing more than a controlled pullback. That's normal and healthy within a longer-term bull cycle.

⚠️ But if $700 breaks, there's a price vacuum below, which could trigger a quick 5%–7% flush, with semiconductors likely driving most of the downside.

For now, support is holding, so there's no reason to panic.

🎯 My trading plan doesn't change. I'll continue focusing on high-quality Smart Money setups rather than chasing short-term moves.

And if tech does see a deeper pullback, that could simply create better entry opportunities in the strongest names.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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