$QQQ beware of resistance to these trend lines

Short term I expect to see a bounce to either of these trendlines. I certainly hope they push past but if they fail, especially the higher one, we could see a nasty fall out. Short term opportunities are there to play but long term, you do not want to be holding if this breaks down further. MSFT earnings tonight will be a key indicator of the businesses that do not have to worry about labor or supply shortages as much as many other industries. If they are also having problems, slowing growth, compressing margins, etc, we could be in for an ugly February through June. Good luck.

This is not intended as investment advice. It is for informational purposes only.