As of May 22, 2026, QQQ (Invesco QQQ Trust) is in a uptrend state on the weekly chart, with a confidence level of 78%. Key support is at $680 and key resistance at $720. Weekly breakout to new swing highs around $720 after a brief pullback to the rising EMA50 (~$603); momentum strong with RSI ~74 (overbought-risk).
Bullish continuation: breakout consolidates above $680 then pushes to next extension; Elliott view suggests a late-stage wave 5 advance with shallow pauses rather than deep retraces while above EMA50.
Overbought mean-reversion: failed follow-through near $720 leads to a multi-week pullback toward the breakout base/MA cluster; Fibonacci-wise this aligns with a typical 0.382–0.50 retrace of the latest impulse leg, resetting RSI.
Hold above $680 on 2+ weekly closes (breakout acceptance).
Weekly close below $603 (EMA50) followed by loss of $575 (recent pivot zone).
Buy-the-dip framework in an uptrend: start near breakout retest ($680), add into 0.382–0.50 pullback zone, heavy add at rising EMA50/SMA50 confluence (~$603) if trend structure remains intact.
Trim into extensions after a wave-5 style breakout: first trims at near-term measured/extension area, larger trims into higher fib extensions where upside becomes asymmetrically stretched vs EMA50/100 and weekly RSI typically overheats.
As of May 22, 2026, QQQ (Invesco QQQ Trust) is in a uptrend state on the weekly chart with 78% confidence. Weekly breakout to new swing highs around $720 after a brief pullback to the rising EMA50 (~$603); momentum strong with RSI ~74 (overbought-risk).
On the weekly timeframe, QQQ has key support at $680 and key resistance at $720. The most likely scenario (bullish) targets $750 and $790, with a revert level at $695.
QQQ (Invesco QQQ Trust) is currently classified as uptrend on the weekly chart, with 78% confidence. Confirmation requires: Hold above $680 on 2+ weekly closes (breakout acceptance). This would be invalidated by: Weekly close below $603 (EMA50) followed by loss of $575 (recent pivot zone).
The most likely scenario (bullish) targets $750 and $790, with a revert level at $695. The alternative scenario (bearish) targets $640 and $605.
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