QQQ has reached the 150DMA，SPX signals an oversold state
QQQ has reached the 150-day moving average (DMA), a key indicator historically differentiating bull and bear markets, particularly for tech.
This level now presents a critical juncture: a potential bounce or a shift to resistance, as seen in 2022. While briefly breached in October 2023 and August 2024, the DMA's significance remains.
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The candle positioned below the lower Bollinger Band signals an oversold state, though its shape doesn't indicate a bullish reversal.
As in the opposite cases when price is above the upper band, the Bollinger Band range WILL be regained; the key is the recovery's strength. A move back above $5,846 is necessary for reversal consideration.
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