US Markets - Bearish performance in the NDX and an update on the QQQ

publication date: May 18, 2021

We have had a cautious view on the NDX and QQQ, and today's price action solidifies that view. The NDX had a feeble rally into its 50-day average and closed on its low. A close below the MFU-2 level which is where the index rallied from, will open the downside to the 12597 area, which is close to the rising 200-day average.

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