US Markets - Update on QQQ long trade...

Cerundolo Investment Research    

US Markets Update  

Volume 6, Issue 4
January 25, 2022

Items of Interest: 

We are in a tricky spot with the market holding above yesterday's low and tomorrow's Fed news with expected volatility. This trade may be intact until the report is released, at which point we may exit quickly. Not sure, we need to see. For now, we like yesterday's entry and now managing the trade. Below are some other thoughts. The Q’s held at the MOB support band and are back above yesterday’s open, a good sign. The key area to watch is a move above yesterday’s close at 353.30, which would be a place to add incrementally. An aggressive trader could add here as the Q’s are breaking above an hourly downtrend. We would then target the 360 area