QQQ Technical Analysis This morning, it hit the daily EMA 100 and 4-hour EMA 200 at 683, just as mentioned yesterday, and bounced back. Watching resistance levels at 696 and the gap at 704 (might not necessarily get filled). Overall, it’s still looking weak. Next week, we’ve got major earnings reports, so it’s likely to drop further. Expecting a pattern of consolidation and downward movement: drop → rebound → drop again. Ultimately, the pullback target is EMA 200 at 648 and SMA 200 at 643. Make sure to hedge properly. The 710 put buy and 650 put sell for August 21 or September 18 that I mentioned a few days ago are still valid.