The analyst notes a strong bounce on the 50 Day MA and bullish wedge support line for QQQ, indicating a bullish stance intraday.
Strong bounce on the 50 Day MA and the bullish wedge support line, indicating the move was not bearish.
$QQQ 3 hours later +2.3% Strong bounce on the 50 Day MA and the bullish wedge support line. This was in fact, not bearish. https://t.co/B7WJ83LbcI
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | +1.7% | +0.9% |
| 1 week | -0.2% | -1.6% |
| 1 month | -8.6% | -7.1% |
| 3 months | — | — |
| 6 months | — | — |